B2B payments infrastructure company Thunes has inked a definitive agreement to acquire Tilia, a move aimed at propelling its expansion into the US online gaming sector.
Established in 2019, Tilia specializes in offering acceptance and payout services for in-app purchases, creator economies, online games, and virtual worlds.
Upon finalization of the agreement, Thunes will harness Tilia’s technology to provide acceptance services for major payment networks, including American Express, JCB, MasterCard, UnionPay, and Visa, to its clientele.
Furthermore, with Tilia holding licenses in 48 US states and territories, Thunes aims to extend its network reach across the US. Thunes boasts facilitating real-time acceptance and payments through billions of bank accounts, 550 alternative payment methods (APMs), and three billion digital wallets.
Following the acquisition, Tilia will be rebranded as Thunes and continue its operations from its San Francisco headquarters.
As part of the deal, Thunes and Linden Research (Linden Lab), the majority owner of Tilia, have forged a five-year partnership. Under this collaboration, Thunes will provide Linden Lab with its payment processing and payout solutions, enabling gamers to make real-time payments.
Floris de Kort, CEO of Thunes, underscores the company’s ambition in the US market, highlighting the investment in Tilia’s capabilities to provide merchants with direct money movement solutions in and out of the United States. Moreover, de Kort anticipates Tilia’s expertise in token-based payments, online gaming, and virtual worlds to expedite Thunes’ growth in these dynamic sectors.
Brad Oberwager, CEO of Linden Lab, anticipates the acquisition to offer customers enhanced payment options and real-time payouts, thereby enhancing user experience.
The deal is contingent upon regulatory approval, and financial terms have not been disclosed.
Source: fintechfutures.com
