Digital Commerce Payments (“DCPayments”), a prominent financial technology payments provider and part of the Digital Commerce Group, announced that it has closed its previously announced transaction (the “Transaction”) with Jasper Commerce Inc. (TSXV: JPIM) (“Jasper” or the “Company”), pursuant to which Jasper has sold its Product Information Management business and related assets to DCPayments with effect from June 30, 2024. The Transaction was concluded pursuant to the terms of an asset purchase agreement among Jasper, DCPayments and Jasper’s wholly-owned subsidiary, Jasper Interactive Studios Inc. (“JISI”), as seller.
Pursuant to the Transaction, JISI sold all of its assets to DCPayments for total consideration of up to $1,500,000 (subject to certain customary purchase price adjustments) with a revenue earn out over a three-year period following closing subject to the maximum transaction consideration.
The acquisition of Jasper’s Product Information Management business, which facilitates the organization of inventory data online, is a strategic addition to DCPayments core payments business, which facilitates electronic payments for corporate clients. DCPayments is growing, both organically as well as through strategic acquisitions such as Jasper, to be a one stop shop for businesses who want to move online or augment their online offerings. Through its suite of payments technologies, online payments portal as well as new Product Information Management software, DCPayments allows companies to build better online products and get to market faster.
