Breaking #Payment News: #Spindle (OTCQB: $SPDL)
Updates Pending Acquisition
SCOTTSDALE, AZ / February 2, 2018 / (Investorideas.com
Newswire) Spindle, Inc. (OTCQB: SPDL) ("Spindle" or
"Company"), a provider of unified commerce solutions, today updated
the status of its previously announced pending acquisition of a privately held
and highly profitable payments processing company.
Read this news in full at http://www.investorideas.com/news/2018/payment-technology/02021OTCQBSPDL.asp
The acquisition brings value drivers including
existing contracts with merchants, exclusive bank relationship opportunities, experienced
executive leadership with 25 years in the payment space, and an experienced
technology veteran, both of which will join the Spindle team as CEO and CTO,
respectively.
Dr. Jack Scott, Spindle Interim CEO stated,
"We're pleased that we continue to make progress towards consummating the
acquisition. We expect to finalize outstanding items in the next couple of
weeks leading to an anticipated closing by the end of February. The more time
I've spent with the acquisition target CEO in recent months, the more confident
I am that he is ideally suited to lead the combined company forward as its
CEO."
Scott concluded, "This acquisition has the
potential to put Spindle back on track to growth and the combined companies
will result in synergies and scale that should ultimately fuel future growth
opportunities."
The acquisition brings the power of payment technology
to merchants with innovative and easy-to-use products that are supported by
unmatched customer service. The resulting combined companies will offer
industry-leading technology, including its own in-house developed payments
gateway, direct API, and an enterprise-level CRM solution specific to payment
processing. Robust functionality will include offering different access for
ISO, agents, and merchants, online merchant application processing, unlimited
downstream revenue/commission, immediate underwriting, statement and reporting,
and cryptocurrencies merchant processing.
Together the combined company is expected to deliver
tailored solutions that maximize efficiency, security, and cost savings.
Solutions are expected to comprise a unique, comprehensive blend of bankcard
expertise, operational service and support, and technology that accelerates
each customer's journey toward an improved bottom line.
About Spindle
Spindle is an innovator of merchant and
consumer-facing commerce solutions focused on the Small and Medium-sized
Business (SMB) market. It is focused on payment processing services and
integrating value-added capabilities that enhance merchant revenue and increase
consumer loyalty, experience, and stickiness. For more information, visit www.spindle.com.
Forward-Looking Statements
This release includes forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended. All
statements regarding our expected future financial position, results of
operations, cash flows, financing plans, business strategy, products and
services, competitive positions, growth opportunities, plans and objectives of
management for future operations, as well as statements that include words such
as "anticipate," "if," "believe,"
"plan," "estimate," "expect," "intend,"
"may," "could," "should," "will," and
other similar expressions are forward-looking statements. All forward-looking
statements involve risks, uncertainties and contingencies, many of which are
beyond our control, which may cause actual results, performance, or achievements,
as described in our reports filed with the Securities and Exchange Commission
which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or
achievements. We can give investors no assurance that the acquisition of the
aforementioned above company will be successfully consummated. We are under no
obligation to (and expressly disclaim any such obligation to) update or alter
our forward-looking statements, whether as a result of new information, future
events or otherwise.
SOURCE: Spindle, Inc.
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