Published on : Oct 12, 2017
Financing in the global advertising industry is likely to go for an overhaul. FastPay, Los Angeles-based financial technology firm announced in October, 2017 the acquisition of AnchorOps, a Massachusetts-based finance solutions provider specializing in electronic payments designed exclusively for the media players. While FastPay provides credit and payment solutions to companies in the digital industries, notably media sellers, AnchorOps boasts of providing platform for facilitating a range of payment solutions, ranging from invoicing to payment disbursement, for media buyers. The acquired company also claims proficiency in payment reconciliation for media buyers while FastPay’s offering helps clients address cash flow issues they face with advertisers.
The acquisition bodes well for all its customers in the media and advertising industry world over looking for a unified experience in payment and disbursement.
Acquisition to Create a Robust Financial Framework in Global Advertising Industry
The deal will help FastPay to integrate the core competencies of the acquired company to integrate them with technology, analytics, and potential credit capabilities and will help streamline the overall advertising ecosystem, believes both the companies. AnchorOps has been gaining prominence in the media financing industry owing to its vertical expertise, proprietary data, comprehensive software solutions, and superb client service, believes FastPay. The company further echoed that it shares a common vision with AnchorOps and the acquisition will set up a framework for achieving the vision. Furthermore, this may also lead to the formation of a robust financial technology company by enabling them to meet their growing working capital requirements across all global offices.