Cake acquired by American Express
Silverpeak used its network of global contacts to build interest leading to an acquisition by one of the world’s largest financial institutions.
About our client
The Cake app uniquely provided several functionalities to users (restaurant bookings, payments, split the bill, promotional discounts) as well as to hospitality operators (itemized bill information per user, loyalty programmes).
Why they chose us
- Silverpeak was selected for its ability to truly understand payments technology and its strategic use cases for potential acquirers
- Another factor was our proven global reach and relationships with tier 1 acquirers within the financial services sector
How we added value
- Cake had an approach from a buyer focused on the dining space and appointed Silverpeak to advise on the deal and assess alternative options
- Silverpeak provided insight to select and contact acquirers with different strategic interests, which resulted in a 100%+ value increase at exit
The successful outcome
Successful strategic acquisition by Amex who on-boarded the team & technology. Increased Amex’s initial offer by 30%
UK / US