Ecommerce and subscription billing solution Avangate has announced the acquisition of online payment solution 2Checkout.
The two companies should be able to create a unique set of offerings in the subscription billing and ecommerce space, combining various payments models, recurring revenue management solutions as well as marketing capabilities.
Avangate will now be able to settle transactions in more than 30 languages and 130 local currencies thanks to the acquisition.
"The ability to sell products and services all over the world, both in-country and cross-border, and to use as much or as little of the platform as the client desires, is the driving force behind the combination," said Alex Hart, Chief Executive Officer of Avangate.
"The resulting company creates a unique offering in the marketplace, bringing added scale and flexibility that will help merchants further accelerate revenue growth. The acquisition of 2Checkout will enhance Avangate's ability to simplify the complexity of selling products and services globally, whether via one-time purchases or recurring transactions."
