Leith company in cash and equity deal
Intelligentpos to expand after sale to Swedes
Acquisition creates ‘one stop shop’
An Edinburgh technology business has been acquired by one of the fastest growing companies in Europe.
Intelligentpos, which provides the software app behind point of sale machines used in bars, shops and restaurants, has been sold for an undisclosed sum in a cash and equity deal to Swedish firm iZettle.
They say it will result in a ‘one-stop-shop’ as it combines the software and hardware used in the payment process.
Intelligentpos will relocate to Edinburgh city centre and embark on almost doubling its staff to 80.
Robin Knox, chief executive, and Paul Walton, chief technology officer, co-founded the company in 2013.
Mr Knox said: “We’ve been partners with iZettle for three years now. As businesses increasingly are looking for a unified point of sale and payments experience this is a natural next step for us and for the market.
“Moreover, iZettle have the same ethos and values as us and we’re thrilled to be joining the team and develop future products that help small businesses thrive.”
Jacob de Geer, chief executive and co-founder at iZettle said: “Five years ago, iZettle set out to empower small business owners with tools to help them accept card payments in an easy way – tools which were typically reserved for larger businesses.
“Via the acquisition of the talented team and great product at intelligentpos, iZettle takes yet another step towards its mission of providing small businesses with a wide range of services and features that are critical to helping them grow and build their empires.”