Payoneer Adds Capabilities With Acquisition Of Data Platform, Spott; No Financial Terms Disclosed
Portfolio Pulse from Happy Mohamed
Payoneer (NASDAQ:PAYO) has acquired Israel-based real-time data platform, Spott, to enhance its service offerings. Spott's AI technology will enable Payoneer to better understand and serve customers, particularly small and medium-sized businesses (SMBs). The first application of the technology will be on Payoneer's working capital products to enhance underwriting capabilities. Financial terms of the deal were not disclosed.
August 04, 2023 | 1:10 pm
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Payoneer's acquisition of Spott is expected to enhance its service offerings and improve its understanding of customers. This could potentially lead to growth in its SMB customer base and improve its working capital products.
The acquisition of Spott, a real-time data platform, will allow Payoneer to better understand and serve its customers, particularly SMBs. This could potentially lead to an increase in its customer base and improve its working capital products, which could positively impact its stock price in the short term.
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