B2B Mergers and Acquisitions, Product Launches and Appointments Report for the week of December 17, 2020
There can only be one … to pay? There is more consolidation among B2B payment solutions providers. WEX, a fintech service provider, announced the completion of its acquisition of eNett, a provider of B2B payments solutions. WEX also acquired Optal, a company that specializes in optimizing B2B transactions. WEX paid approximately $577.5 million US from its cash reserves to complete the deals.
Press release: https://ir.wexinc.com/news/news-details/2020/WEX-Completes-Acquisition-of-eNett-and-Optal/default.aspx
Different hemisphere, same strategy. B2B payments are also merging down under. eftpos, BPAY Group and New Payments Platform Australia (NPPA), Australia’s three main payment platforms have announced their intention to amalgamate. The merger will create an all-Australian solution that, the participants say, will be “better able to compete with the growing scale of overseas multinational payment platforms.”
Press release:https://www.eftposaustralia.com.au/2020/12/15/eftpos-bpay-group-and-nppa-propose-to-amalgamate-for-the-benefit-of-australian-consumers-and-businesses/
Remote workers isolate while their apps merge. Mobile data collection specialist FORM.com, acquired GoSpotCheck, a provider of mobile task management and image recognition software. The GoSpotCheck software platform will merge with FORM.com to further enable low-code/no-code mobile data collection and digital process automation. The merger will service mid-size and large global enterprises.
Faster food to market and it’s not another delivery app. The food industry is getting a boost from a B2B test provider. Eurofins Technologies, a supplier of test kits and systems for laboratory analyses, launched a new range of SENSIStripdetection kits. The prepared assay test kits detect allergens throughout the food production process to control for potential cross-contamination. Testing, traceability and labelling are highly regulated and, before the advent of products like these, required longer periods of food incubation time at every stage of the process.
A big, green machine. B2C and B2B have joined together as peacefully as Cheech and Chong. Aphria, a global cannabis company and Tilray, a pioneer in cannabis research, cultivation, production and distribution, announced their definitive agreement to combine their businesses. The deal creates the world’s largest global cannabis company worth $5.0 billion CA based on both companies’ share prices as of December 15, 2020.
Press release: https://ir.tilray.com/news-releases/news-release-details/aphria-and-tilray-combine-create-largest-global-cannabis-company
