mobileAxept

Minneapolis, Minnesota – Quazar is pleased to announce mobileAxept, Inc. (“mobileAxept”) has been acquired by i3 Verticals. Quazar Capital Corporation (“Quazar”) advised mobileAxept in the transaction.

In 2006, majority Shareholder Terje Mikalsen saw a need in the Norwegian market for a user-friendly mobile payment platform. With an extensive background in founding, leading, and growing companies, Terje founded mobileAxept to fill the need in the market. Over the years, mobileAxept expanded into the United States market and shifted its focus to serving the faith-based sector. 

After establishing mobileAxept as one of the prominent donation platforms serving faith-based organizations, the Shareholders of mobileAxept made a strategic decision to transition the business by finding a partner who could manage the rapid growth of the business, use its technology to serve additional verticals, and create new opportunities for its employees. They chose Quazar as their M&A Adviser primarily due to Quazar’s industry experience, extensive network, and reputation for successfully working with privately-held businesses.

Quazar generated robust interest in mobileAxept, including both Strategic and Financial Buyers. The Shareholders ultimately decided that a publicly-held technology company serving a variety of end markets would be the best fit to continue to grow the business and further leverage mobileAxept’s technology.

mobileAxept, Inc. (mobileaxept.com) is a premiere cloud-based platform for churches, ministries, and related nonprofits to receive donations using SMS messaging, websites, and mobile apps. The business was founded in Norway in 2006 and is currently based out of Minneapolis, Minnesota.  

i3 Verticals (i3verticals.com) delivers seamless integrated software and services to customers in strategic vertical markets. Building on its sophisticated and diverse platform of software and services solutions, the Company creates and acquires software products to serve the specific needs of public and private organizations in its strategic verticals, including its Public Sector (including Education) and Healthcare verticals.

Quazar (quazarinc.com) is a Minneapolis-based Investment Bank founded in 1990. Quazar specializes in working with privately-held businesses within various industries, including: manufacturing, distribution, business services, technology, and consumer. Quazar provides both sell-side and buy-side advisory services to companies in the lower middle and middle-market.