Thunes announces agreement to acquire Tilia LLC
LONDON , April 23, 2024 /PRNewswire/ -- 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, is proud to announce that it signed a definitive agreement to acquire Tilia LLC, 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, says, "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, says, "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.
Contact:
Flo Holt, PR Account Manager, Headland, [email protected],
+44 (0)7311 369 938
Rebecca Hackworth, Director, Corporate Communications, Thunes, [email protected], +44 (0)7447 459 656
About Thunes:
Thunes is a global payment innovator enabling seamless, instant and transparent money movement for the 21st century. Through our expansive network, we empower our customers to Accept and Pay in real-time, closing the gap between payment systems worldwide.
Thunes currently facilitates payments in 84 currencies across 133 countries, using over 550 payment methods, including 129 mobile wallets like PayPal, M Pesa and Orange Money, gig economy giants like Uber and Deliveroo and super-apps like Grab and WeChat. Headquartered in Singapore, Thunes has offices in 14 locations, including Beijing, Nairobi, Riyadh, Dubai, San Francisco, Sao Paulo, London, Paris, Barcelona and Manila.
With a mission to connect the world's population so that commerce can operate in a borderless, frictionless way, Thunes' network is powering the next chapter of the digital economy. For more information, visit: https://www.thunes.com/
About Tilia:
Tilia LLC is the all-in-one payments platform for digital economies. Through its payments infrastructure technology and as a licensed money transmitter in the U.S., Tilia is unlocking the full potential of online economies by providing secure, regulated transactions at massive scale. For more information, visit www.tilia.io.
About Linden Lab:
Linden Lab develops platforms that empower people to create, share, and benefit from virtual experiences. Founded in 1999, the company first launched Second Life, the ground-breaking virtual world enjoyed by millions around the globe, in 2003, which has since gone on to boast nearly two billion user creations and a vibrant $500 million (USD) economy. For more about Linden Lab, its products, and career opportunities, visit its website.
SOURCE Thunes
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