M&A: Okto enhances North American gaming presence with acquisition of Flexia Payments
Okto has successfully acquired Flexia Payments in a strategic move aimed at expanding its footprint in the North American gaming sector.
Omnichannel payment solution
Okto, a prominent player in the cashless and omnichannel payment solutions sector, has set its sights on further growth and market dominance with this acquisition.
Flexia Payments, a fintech company renowned for its expertise in providing innovative cashless solutions for digital payments, is well-positioned to propel Okto’s goals in the sector.
Flexia Payments has a remarkable track record of integration with numerous partners, including WinSystems, Axes Information Management Systems and CasinoTrac. These partnerships have paved the way for combining casino and online wagering accounts into a convenient Flexia Prepaid Mastercard. This partnership not only streamlines payment processes but also enhances the overall customer experience in the world of digital payments.
Significant step forward for both companies
The Vice President of North America at Okto, Theo Engelis, (photo above, on the left), expressed his enthusiasm for this strategic acquisition. He stated, “This acquisition aims to place Okto at the forefront of digital payment services provision in the North American land-based and online gaming markets via its omnichannel offering. We’re excited about this partnership, which marks a significant enhancement for both companies and aligns with our ongoing cashless strategy in Europe and Latin America.”
Flexia’s CEO and co-founder, Craig Libson, (photo above, centre), shares the excitement about this partnership, emphasizing the value it brings to both organizations. Libson remarked, “Our partnership with Okto grants us access to significant resources and capabilities, accelerating the deployment of advanced cashless and omnichannel payment services to the ever-expanding gaming market. The synergies between the two companies, our platform, and pipeline, blended with Okto’s powerful payment technology and existing business line combine to form the foundation for success in the North American market and beyond.”
Scott Walker, (photo above, on the right), President & Co-founder of Flexia, he added: “Our alignment with OKTO enables us to complete our mission to drive digital payment innovation in the world of online and land-based casino gaming. In particular, it help us put our plans into action in North America.”
Expansion to Italy
This strategic acquisition follows Okto’s recent partnership with the Italian Digital Hub Foundation (IDH). The collaboration with IDH, established last month, is part of Okto’s broader strategy to bolster its presence in Italy and engage in digital transformation initiatives. The acquisition of Flexia Payments is a testament to Okto’s commitment to advancing cashless solutions and innovative payment options on a global scale.
As Okto continues to strengthen its position in the North American gaming markets, this latest development signifies a significant step towards achieving its mission of providing cutting-edge payment services that enhance the gaming experience for both land-based and online players. The partnership between Okto and Flexia Payments sets the stage for an exciting journey into the North American market and beyond, solidifying their presence in the digital payments landscape.
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