Checkout.com makes first acquisition

Payment processor Checkout.com has acquired French startup ProcessOut

In Brief:

• ProcessOut offers payments as a service.

• It has analysed over $20bn transactions over the past 12 months.

• The acquisition follows Checkout.com’s $230mn funding round.

What does this mean?

ProcessOut has a team of 14 which will join Checkout.com’s 600 staff. Checkout.com hopes that ProcessOut’s tools will help its enterprise customers optimise and streamline payment routing.