Apptech Payments Announces Its Intent To Acquire Hothand Inc., Bolstering Its Patent Portfolio

Apr 19, 2022•over 3 years ago

Acquiring Company

AppTech

Acquired Company

Hothand

PaymentsMobileCommerce And ShoppingFinancial ServicesSoftware

Description

AppTech Payments Corp. (“AppTech”) (NASDAQ: APCX) a Fintech company powering commerce experiences, is excited to announce its definitive agreement to purchase Hothand Inc. (“Hothand”), a patent holding company which owns the intellectual property rights to a wide array of mobile credit/debit transaction and mobile search, location, offer, and payment fields.

Company Information

Company

AppTech

About

AppTech Payments Corp. is developing a modular and highly scalable and secure Fintech platform that is set to fuel the future of commerce. Our platform drives B2B, B2C and P2P capabilities in payments as a service (Paas) and Banking as a service (Baas) including crypto currency payments and contactless payment options like text-to-pay, QR, mobile-to-mobile and payments in the metaverse. The APCX platform powers commerce so our clients, including SaaS, e-commerce, technology, retail, financial and consumer brand companies can deliver seamless (commerce) experiences to their customers when, where and how they want to transact. For more information about our company, please visit www.apptechcorp.com.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed