PaySauce Limited (NZSE:PYS) acquired business and assets of SmoothPay for NZD 0.37 million on May 31, 2021. Under the terms of the transaction, the purchase price for SmoothPay is fully payable through the issue of 1,416,164 ordinary shares in PaySauce and represents approximately 1.5 times SmoothPay’s annual revenue for FY2021. More than 1500 SmoothPay subscribers will join PaySauce, bringing the total customer base to over 5000 subscribers. The acquisition sees PaySauce welcoming SmoothPay founder Matthew Gardner as a senior payroll developer, bringing a wealth of institutional knowledge and expertise on programming for compliance with New Zealand labour legislation, as well as other jurisdictions that SmoothPay currently operates in. PaySauce Limited (NZSE:PYS) completed the acquisition of business and assets of SmoothPay on May 31, 2021.