Spindle Updates Planned Acquisition

SCOTTSDALE, AZ / ACCESSWIRE / February 28, 2018 / Spindle, Inc. (OTCQB: SPDL) (“Spindle” or “Company”), a provider of merchant processing solutions, today updated the status of its previously announced planned acquisition of a privately held payments processing company.

Dr. Jack Scott, Spindle Interim CEO stated, “We continue to work towards consummating the acquisition as previously announced. While we expected to finalize outstanding items by the end of February, there still remain some open items to be completed. We are continuing to work diligently towards closing the transaction which we continue to believe has the potential to put Spindle back on track to growth and that the combined companies will result in synergies and scale that we expect will ultimately fuel future growth opportunities.”

The acquisition brings the power of payment technology to merchants with easy-to-use products and services. The resulting combined companies will offer its own in-house developed payments gateway, direct API, and an enterprise-level CRM solution specific to payment processing. The combined platform will be offering different access for ISO, agents, and merchants, online merchant application processing, unlimited downstream revenue/commission, immediate underwriting, statement and reporting, and cryptocurrencies merchant processing.

Together the combined company is expected to deliver tailored solutions that maximize efficiency, security, and cost savings. Solutions are expected to comprise a unique, comprehensive blend of bankcard expertise, operational service and support, and technology that accelerates each customer’s journey toward an improved bottom line.

About Spindle

Spindle is focused on providing merchant processing services to the Small and Medium-sized Business (SMB) market. For more information, visit www.spindle.com.

Forward-Looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We can give investors no assurance that the acquisition of the aforementioned above company will be successfully consummated. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Spindle

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