Paystone Acquires Ackroo Inc.: Strategic Growth Through Canadian Fintech Consolidation
Counsel to Paystone Inc. with respect to its acquisition of Ackroo Inc.
Lead by
Kevin Refah
Miller Thomson acted as legal counsel to Paystone Inc. in connection with its acquisition of Ackroo Inc., a transaction that significantly strengthens Paystone’s position in the Canadian fintech and merchant engagement landscape. The acquisition was completed on April 1, 2025, pursuant to a statutory plan of arrangement announced in December 2024.
As an industry consolidator, Ackroo acquires, integrates and manages gift card, loyalty marketing, payment and point-of-sale solutions used by merchants of all sizes. Ackroo’s self-serve, data-driven, cloud-based marketing platform helps merchants in-store and online process and manage loyalty, gift card and promotional transactions at the point of sale.
Paystone is a leading North American payment and software company redefining the way merchants engage their customers and grow their businesses. The Company’s suite of automated payment processing, customer loyalty programs, gift card solutions, and reputation marketing software is used at over 35,000 merchant locations across Canada and the United States, collectively processing more than $10 billion in annual bankcard volume.
Miller Thomson LLP acted as legal counsel to Paystone Inc. in connection with this acquisition. The firm provided end-to-end legal support throughout the transaction, including negotiating the arrangement agreement, conducting due diligence, and advising on all corporate and transactional aspects of the deal. This mandate reflects Miller Thomson’s ongoing role as a trusted advisor to Canadian technology companies in executing strategic growth initiatives.
The legal team was led by Kevin Refah, and comprised of Robert Stewart, Mack Hosseinian, David Reynolds, Stefan Mirkovic, Christopher Fallis, Wendy Wang and Connor Broude (Corporate/M&A), with support from Meaghan Martin (Paraprofessional).