Paytech InComm acquires Linq3 Technologies
Prepaid payments technology firm InComm marked its eighth acquisition this week with the purchase of Linq3 Technologies, an Atlanta, Georgia-based digital lottery company, reports Julie Muhn at Finovate.
“to deliver new product solutions to create experiences that will engage the consumer – right at the retailer’s point of sale”
The deal gives InComm access to Linq3’s suite of lottery products that leverage consumer interaction at retailers’ point of sales systems. Terms of the deal were not disclosed.
Brooks Smith, InComm founder and CEO, noted that incorporating the new technology will enable InComm “to deliver new product solutions to create experiences that will engage the consumer – right at the retailer’s point of sale.”
Smith also noted that this week’s purchase extends beyond technology and into Linq3’s human resources, offering InComm lottery industry intelligence.
“This transaction brings us an experienced management team with a great deal of industry knowledge that can be leveraged to transform and grow lottery business across North America,” he says.
Tom Spiegel, CEO of Linq3, noted that InComm will especially benefit from state lotteries. “Today, state lotteries face many challenges tied to retailer expansion, new player acquisition, and product innovation in an increasingly digital world,” he says.
Spiegel adds: “Through InComm’s acquisition of Linq3, state lotteries will now have the ability to reach more players through new and current retailers, retailers can realise more revenue by driving new consumer traffic to their locations, and lottery players will benefit from easy, simple and new ways to purchase and play lottery products.”
In anticipation of the acquisition, InComm has already integrated with central gaming system vendors in the US. In fact, the company plans to launch lottery products including point of sale-activated draw games, prize pay-outs and validations, and prepaid state lottery gift cards for its retail clients.
Last June, the Atlanta-based company teamed up with Fiserv to make it easier for consumers to pay their bills using cash at retailers’ physical point of sale systems.
