- Portfolio consists of over 1,500 retailers, which is able to present OLB with a robust place in a quickly rising market
- Acquisition consists of new gross sales channel presently onboarding a median of 120 new accounts a month
- Based on historic efficiency, deal anticipated so as to add roughly $20 million in annual cost processing income, growing complete income 200%, with a further $5 million EBITDA projected
NEW YORK–(BUSINESS WIRE)–The OLB Group, Inc. (NASDAQ: OLB), a diversified fintech service provider companies supplier and Bitcoin mining enterprise, at the moment introduced it has entered right into a definitive settlement to accumulate a portfolio of cannabidiol (CBD) retailers that may make the most of the corporate’s SafePay Payment Gateway to course of funds. The acquired service provider portfolio has demonstrated a historic annual transaction run fee the place it’s anticipated to realize an annual transaction quantity of roughly $400 million in 2022, offering OLB with a major foothold within the almost $three billion world CBD market whereas including an achieved and skilled gross sales channel to the OLB group. The OLB Group anticipates, based mostly on the historic efficiency of the group of retailers, a further $20 million in annual income and $5 million in earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) for the corporate’s cost processing enterprise. Terms of the transaction might be discovered within the Company’s SEC submitting https://www.sec.gov/ix?doc=/Archives/edgar/data/0001314196/000121390021062606/ea151441-8k_theolbgroup.htm.
“OLB is very pleased to have successfully closed this transaction resulting in this substantial addition to our payment processing business in a market sector that has been growing rapidly over the past several years. This portfolio acquisition of successful merchants in a market that is forecasted to continue its very healthy growth rate in both profitability and revenue provides OLB with a new growth engine,” mentioned Ronny Yakov, Chief Executive Officer of The OLB Group. “The revenue contribution to our top line is anticipated to represent an increase of revenue of approximately 200% percent in 2022 when compared to 2020 revenue.”
According to a recent market analysis by Grandview Research, the flourishing CBD market was valued at roughly $2.8B in 2020 and is projected to extend at an annual fee of 21.2% by 2028. This strategic acquisition positions OLB to capitalize on the projected development of the CBD market, enabling additional penetration into one of many quickest rising sectors within the United States. By offering the service provider portfolio with the proprietary and customizable “SecurePay” system, OLB will be capable of tackle most of the cost issues referring to the rise in exercise within the CBD sector.
SafePay offers an built-in assist platform for conventional card-based funds, main digital wallets together with Apple Pay® and Google Pay®, PayPal, and cryptocurrency wallets. The cloud-based platform additionally consists of integrations with a number of back-office methods together with QuickBooks and different enterprise software program purposes.
For retailers looking for a complete answer to simplify enterprise processes and cost acceptance on the level of sale (PoS), OLB’s OmniDelicate Business Management Platform provides retailers prolonged companies together with PoS terminals, warehouse, stock, and logistics assist, accounting and payroll, and buyer relationship administration. Merchants fascinated by implementing omnicommerce companies can arrange a SafePay or OmniDelicate account at https://cardaccept.com/#contact.
Future OLB Press Releases and Updates
Interested buyers or shareholders might be notified of future Press Releases and Industry Updates by e-mailing investorrelations@OLB.com.
About The OLB Group, Inc.
The OLB Group, Inc. is a diversified Fintech eCommerce service provider companies supplier and Bitcoin crypto mining enterprise. The Company’s eCommerce platform delivers cloud-based service provider companies for a complete digital commerce answer to over 9,500 retailers in all 50 states. DMint, a completely owned subsidiary of OLB Group, is engaged within the mining of Bitcoin using sustainable pure gasoline with an preliminary deployment of environment friendly 1,000 ASIC-based S19j Pro 96T mining computer systems projected by finish of 2021. For extra details about options, companies, or to discover a reseller, please go to www.olb.com. Investor data is on the market at www.olb.com/investors-data.
Safe Harbor Statement
All statements from The OLB Group, Inc. on this information launch that aren’t based mostly on historic reality are “forward-looking statements” throughout the which means of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements embrace, however should not restricted to, statements in regards to the influence of COVID-19 on our operations and monetary situation, our skill to enter right into a definitive settlement and consummate the proposed acquisition of the retailers, the persevering with development of the CBD sector typically, the continued gross sales and revenues of the retailers which are being acquired, our skill to generate revenues and earnings from the brand new retailers, that the settlement, if entered into, will end in further enterprise for our Omni Commerce and SafePay purposes. While the Company’s administration has based mostly any forward-looking statements contained herein on its present expectations, the knowledge on which such expectations had been based mostly might change. These forward-looking statements depend on various assumptions regarding future occasions and are topic to various dangers, uncertainties, and different elements, lots of that are outdoors of our management, that would trigger precise outcomes to materially differ from such statements. Such dangers, uncertainties, and different elements embrace statements concerning the anticipated income and revenue for operations to be generated by The OLB Group, Inc. For different elements that will trigger our precise outcomes to vary from these which are anticipated, see the knowledge beneath the caption “Risk Factors” within the Company’s most up-to-date Form 10-Ok and 10-Q filings, and amendments thereto, in addition to different public filings with the SEC since such date. The Company operates in a quickly altering and aggressive surroundings, and new dangers might come up. Accordingly, buyers shouldn’t place any reliance on forward-looking statements as a prediction of precise outcomes. The Company disclaims any intention to, and undertakes no obligation to, replace or revise any forward-looking assertion.
The OLB Group – Investor Relations
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