DCPayments Closes Previously Announced Transaction to Purchase Operating Business of Jasper

CALGARY, Alberta--(BUSINESS WIRE)--Digital Commerce Payments (“DCPayments”), a prominent financial technology payments provider and part of the Digital Commerce Group, today announced that it has closed its previously announced transaction (the "Transaction") with Jasper Commerce Inc. (TSXV: JPIM) ("Jasper" or the "Company"), pursuant to which Jasper has sold its Product Information Management business and related assets to DCPayments with effect from June 30, 2024. The Transaction was concluded pursuant to the terms of an asset purchase agreement among Jasper, DCPayments and Jasper's wholly-owned subsidiary, Jasper Interactive Studios Inc. ("JISI"), as seller.

Pursuant to the Transaction, JISI sold all of its assets to DCPayments for total consideration of up to $1,500,000 (subject to certain customary purchase price adjustments) with a revenue earn out over a three-year period following closing subject to the maximum transaction consideration.

The acquisition of Jasper’s Product Information Management business, which facilitates the organization of inventory data online, is a strategic addition to DCPayments core payments business, which facilitates electronic payments for corporate clients. DCPayments is growing, both organically as well as through strategic acquisitions such as Jasper, to be a one stop shop for businesses who want to move online or augment their online offerings. Through its suite of payments technologies, online payments portal as well as new Product Information Management software, DCPayments allows companies to build better online products and get to market faster.

About DCPayments: In a world where innovation and disruption are key to success, DCPayments is leading the charge with cutting-edge digital payment solutions. From seamless payment integrations to fully customizable options, DCPayments helps companies put fast, reliable solutions at the heart of their businesses. Learn more and get in touch today at https://dc-payments.ca/contact.

About Jasper: Jasper is a reporting issuer in the Provinces of British Columbia, Alberta and Ontario and has no active business operations or assets other than its equity interest in JISI and its contingent rights, indirectly, to receive earn-out payments from the Transaction.