Kipp acquired by investor group led by The Lifetime Value Company
The card-issuer and merchant connectivity platform said the transaction will support its next phase of product development and U.S. expansion; financial terms were not disclosed.
Kipp announced October 29 that it had been acquired by an investor group led by The Lifetime Value Company and its founders.
Kipp describes its platform as connecting card issuers and merchants. The company said the transaction will help accelerate product development and expansion in the United States, according to its announcement.
The acquisition gives Kipp a new ownership structure as it builds payment infrastructure for issuer and merchant connectivity. The practical questions for customers will be continuity of service, product investment, data handling and whether the ownership change affects commercial or integration terms.
The parties did not disclose financial terms, revenue, valuation or a timetable for specific product changes. The announcement supports the ownership and expansion claims but does not establish projected customer growth or operating results.