London-based online payment solutions provider Checkout.com has acquired Tallinn’s software development/consultancy firm Icefire. While the financial details of the deal remain undisclosed, according to Checkout.com, this is the largest acquisition to date, with 110 of Icefire’s engineers joining the team, making Tallinn the firms’ second-largest engineering hub.
Checkout, which provides some of the unpinning payments juice behind Klarna, Revolut, and Wise, to name a few, has seen a massive spike in demand, with transaction volumes tripling in the past year alone.
With the Estonian acquisition, checkout not only gains 110 new engineers but perhaps, more importantly, in-market expertise and the ability to better serve existing clients Wise, Monese, and Bolt.
Over the course of its 18-year history, Icefire has worked with brands including Skype, Swedbank, Coop Pank, and Estonia’s Tax & Customs Board. Most recently the firm supported the development of Estonia’s COVID-19 app, HOIA.
“Icefire has an outstanding track record of building complex, modular financial systems over the past 18 years. Their proven experience is complementary to what we are building at Checkout.com, to empower the enterprises with better payments,” concludes Checkout.com’s CTO Ott Kaukver.
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