#GoDaddy stock hits new high after acquisition of #Poynt for $365 million dollars

GoDaddy

GoDaddy announced the acquisition of Poynt, expanding its commerce services with offline sales and integrated payments.

The acquisition is worth a total of $365 million dollars: GoDaddy will pay $320 million in cash at closing and $45 million in deferred cash payments subject to certain performance and employment conditions over three years.

The transaction with Poynt is expected to close in the first quarter of 2021, subject to the satisfaction of regulatory approvals and other customary closing conditions.

Poynt?

It seems that it doesn’t matter how the domain is spelled, after all! 😀

Today, GoDaddy stock (GDDY) reached a new high at $91.81 dollars from the previous day closing of $85.84 dollars. The stock dropped lower later today.

Note: We do not hold any positions in GoDaddy stock at this time.

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