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Paytabs Acquires Turkey'S Largest Social Commerce Platform, Paymes

Dec 12, 2022•about 3 years ago

Acquiring Company

PayTabs

Acquired Company

Paymes

PaymentsFintechE CommerceFintechFinancial ServicesE Commerce

Description

PayTabs, Middle East, Africa, and South Asia's (MEASA's) award-winning payments powerhouse, in a power play announced that it had acquired a 100% stake in Paymes, Turkey's largest social commerce platform. The news of the acquisition comes just weeks after PayTabs acquired Saudi Arabia's Digital Pay in November 2022.

Company Information

Company

PayTabs

About

PayTabs is an award-winning payments solutions powerhouse founded by Saudi entrepreneur Abdulaziz Al Jouf. Having processed the first live payment gateway transaction in June 2014, today PayTabs processes transactions in multiple currencies and markets, swiftly and securely. Using API plugins, PayTabs facilitates seamless e-commerce, m-commerce, and social commerce solutions for merchants and super merchants to 'plug and play' payment features on to their websites. Originally backed by Saudi Aramco's "Waed" and later by private investment, over the years, PayTabs has in-built and exported a full stack of game changing solutions. These include mobile applications, hospitality, governmental, education, airline, travel, transport, and biller solutions, to interlink the multi-billion-dollar enterprise market chain in the MENA region.

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