Ackroo Inc. (TSX-V: AKR; OTC: AKRFF), a Hamilton, Ontario, Canada-based loyalty marketing, gift card and payments technology and services provider, announced that its wholly-owned subsidiary, Ackroo Canada Inc., is to acquire some assets of BNA Smart Payment Systems Ltd., a value added electronic payments provider.
Under the terms of the deal, the company has acquired BNA’s software and hardware payment solutions and all related customer contracts representing between $35k and $40k of monthly recurring revenue spread across automotive, retail, hospitality and petroleum merchants.
In consideration for the acquisition, Ackroo has paid $200k and will pay 100% of the net residual payment commissions from BNA customers for the first 12 months and 50% of the net residual payment commissions for the following 12 months to BNA.
Led by Matt Moore, President, BNA Smart Payments is a payment processing company for merchants across North America. It provides certified credit and debit payment solutions from various different payment processors, serving industries such as automotive, general retail, restaurant, entertainment and professional services.
Led by Steve Levely, CEO, Ackroo provides merchants of all sizes a cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model, the company provides an in-store and online automated solution to allow merchants to process loyalty, gift card and promotional transactions at the point of sale, to give access to key administrative and marketing data, and to allow customers to manage their loyalty and gift card accounts. Ackroo also provides important marketing and payment services to assist their merchants with utilizing its technology solution and to provide a single point of contact for all of their primary merchant currencies.