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DCPayments Enhances Digital Solutions with Jasper PIM Buyout

M&A | Release | Jul 8, 2024

Freepik shaking hands on deal - DCPayments Enhances Digital Solutions with Jasper PIM Buyout

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DCPayments Completes Acquisition of Jasper's Operating Business

Digital Commerce Payments (DCPayments) has completed its acquisition of Jasper Commerce Inc.'s (Jasper) Product Information Management (PIM) business. This transaction, which will take effect on June 30, 2024, aims to improve DCPayments' digital payment solutions while also expanding its market position.

View Jasper release here | DCPayments release here.

Deal Overview

  • DCPayments purchased the assets from Jasper Interactive Studios Inc. (JISI), a Jasper subsidiary.
  • A revenue earn-out over three years based on the business's gross revenue will be included in the deal, which has a maximum value of $1,500,000, subject to usual purchase price modifications.
  • 95% of the proceeds will be distributed to JISI's creditors. Not all obligations, nevertheless, will be fulfilled.

DCPayments's Perspective

Acquiring Jasper's PIM division is a calculated move by DCPayments to further connect their electronic payment services with strong product management skills. With this addition, DCPayments will be able to provide more complete solutions, assisting companies in expediting market entry and optimizing online operations. Up to $1,500,000 is the total consideration for this deal, subject to usual adjustments and a revenue earn-out spread over three years.

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Pamela Draper, President of DCPayments:

“Integrating Jasper’s PIM business aligns with our goal to provide a one-stop-shop for businesses enhancing their online presence. This will enable us to deliver faster, more reliable solutions to our clients.”

Jasper's Perspective

For Jasper, the deal is a crucial step toward meeting its financial commitments and looking into new commercial prospects. 95% of the unsecured debts will be settled with JISI's creditors through the primary usage of the revenues. All liabilities will not be satisfied by the deal, though, as Jasper's shares are still listed as suspended on the TSX Venture Exchange.

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Mag Saad, Chairman of Jasper:

“This transaction allows us to focus on new ventures and maximize shareholder value. While we face challenges with suspended trading, we are committed to identifying and acquiring new business opportunities to drive future growth.”

Future Plans

Jasper reported a net loss reduction in Q3 2024 and plans to invest in new business activities. However, the necessity for more capital and suspended trading present substantial obstacles.

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