Internet payment processor Optimal Payments has announced that it has purchased Canadian mobile developer FANS Entertainment for $16 million CDN.
The deal will be completed by issuing 3,163,633 shares in a subsidiary of Optimal Payments, which will then be exchangeable for shares in Optimal Payments themselves over the next three years.
FANS has developed a solution that allows content providers to reach their fans, while still maintaining the chance to monetize services to them by using the software as an electronic wallet. The platform can allow for companies to also obtain consumption metrics and is currently in use in Montreal's Bell Centre, which sees more than 1.5 million visitors annually.
The deal will give Optimal Payments their full platform as well as existing management base, which they will use to leverage the platform developed. Optimal Payments has built a name for itself in the online gaming world, as users are able to use the payment service to accept deposits and withdrawal requests from players.