The Card Network agrees 100% sale to global payments technology company InComm Payments
The Card Network (TCN), the leading provider of gift card and payment solutions, has been sold to global payment technology company, InComm Payments. The transaction signals an exciting new chapter of growth in the Australian gift card industry and provides InComm with the opportunity to leverage TCN’s deep understanding of the sector, enabling use of its market-leading multi-brand gift card products.
Founded in 2019 by two pioneers of the local gift card industry, Nick Sims and Richard Hewitt, TCN has forged a reputation as the leading provider of creatively themed, multi-brand gift cards, with a proven record of delivering innovative and reliable products to the gift giver and receiver.
Founded in 1992 in the USA, InComm is a global payment solutions company that transforms the global commerce experience through innovative payment technology for retailers, brands and consumers.
Oaklins’ team in Australia acted as lead M&A corporate advisor to TCN. The team worked alongside TCN and its two majority shareholders, to run a comprehensive process leading to a successful outcome for both parties. The transaction adds to Oaklins’ track record in the fintech and payments sector, demonstrating our ability to work closely with business owners and founder-led businesses to bring deep industry knowledge and deal expertise to secure a path to liquidity.
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