Thunes announced it has a definite agreement to acquire Tilia from Second Life owner Linden Research for an undisclosed price.
To accelerate its growth in the United States and its presence in the fast-expanding online gaming market, Thunes, a global cross-border payments company, agreed to buy Tilia, an all-in-one payments platform. Tilia is licensed in 48 U.S. states and territories and offers payment solutions (acceptance and pay-outs) for online games, virtual worlds, creator economies, and in-app purchases.
Upon closing of the transaction, which is subject to regulatory approvals, Thunes’ bespoke global network to accept and pay in real-time through four billion bank accounts, three billion digital wallets and 550 Alternative Payment Methods (APMs) will become available to merchants across the United States, including current Tilia customers.
Using Tilia’s technology, Thunes will be able to offer Visa, MasterCard, American Express, JCB and UnionPay acceptance to Thunes’ customers.
As part of the transaction, Thunes and Linden Research, Inc. (“Linden Lab”), the current majority owner of Tilia, have agreed to an exclusive five-year partnership in which, post closing, Thunes will provide payment processing and pay-outs to Linden Lab, leveraging Thunes’ global network – allowing gamers to pay, and to receive money real-time, in a more cost-efficient way and with increased transparency.
Floris de Kort, CEO of Thunes, said in a statement, “The acquisition of Tilia demonstrates our ambition in the United States. This investment will enable us to leverage Tilia’s capabilities to provide merchants with direct money movement solutions in and out of the United States. Furthermore, Tilia’s deep expertise in online gaming, virtual worlds and token-based payments will greatly accelerate our growth into that fast-growing, exciting industry.”
Brad Oberwager, CEO of Linden Lab, said in a statement, “Thunes is an exceptional company that directly connects nearly every payment method and market worldwide. The combination of Tilia and Thunes will give Linden Lab’s customers more payment choices, and the ability to receive pay-outs in real time, anywhere, into the wallet or bank account of their choice. It will be business as usual for our people and our customers as we bring Tilia and Thunes together.”
Subject to regulatory approval, after the acquisition closes, Tilia will be rebranded as Thunes and will remain based in San Francisco.