PITTSBURGH, Feb. 2nd, 2019 — Pineapple Payments, a payment processing technology company, announced that it has acquired AthleteTrax, a payments-focused software platform that serves recreational sports leagues and facilities through a full-service point-of-sale system and a robust set of back office management tools. As both companies are based in Pittsburgh, PA, AthleteTrax will join Pineapple at its downtown headquarters. Terms were not disclosed.
In just its second year after formally launching and closing on a substantial investment by Providence Strategic Growth in September of 2017, Pineapple has now completed five acquisitions. The firm has grown to serve more than 15,000 merchants and process $3 billion in payments volume annually. With the acquisition of AthleteTrax and a growing distribution network, the company plans to further develop and drive new sales to the AthleteTrax platform through its strong technology team and network of more than one hundred resellers and independent sales agents.
“AthleteTrax has carved out a significant niche with its software that powers both youth and adult sports leagues and the facilities those organizations call home. The entire platform is centered on payments, so it is a natural fit for Pineapple to continue to enhance the product and put it in the hands of our nationwide sales team,” said Pineapple Payments CEO Brian Shanahan. As both a payments industry expert and owner of Cool Springs Sports Complex in the South Hills of Pittsburgh, Shanahan believes there is opportunity to make AthleteTrax the leading recreational sport facility management and payments platform on the market today. “At Cool Springs we have used the AthleteTrax product for almost three years now to power our entire sports campus with both in-person and online program registrations and payments. The product is easier to use and more robust than its competitors, and we believe that when you combine its feature functionality with our payments tools at Pineapple, it becomes a win-win.”
“AthleteTrax recognized early on that payments would be a significant component of its business model as the entire payments industry is moving away from standalone credit card terminals to integrated, software-based payments” said Pineapple President Jon Halpern. AthleteTrax leverages Pineapple’s payments technology to power its entire platform and brings more than one hundred customers with strong recurring revenue in addition to its payments business. “We are excited to marry AthleteTrax and Pineapple to add another value-added software offering to Pineapple’s suite of technology tools. It will also be an exciting product offering for our sales partners and agents, further differentiating their value proposition in the competitive software and payments marketplace.”
Following its acquisition of prominent payment gateway Transax in late 2018 and the addition of AthleteTrax, Pineapple has plans to double its technology headcount in Pittsburgh in the next three months. “With the addition of AthleteTrax, we have a growing number of payments-oriented products from a complete invoice and bill presentment portal to a full-service recreational sports registration and point-of-sale system,” said Pineapple Executive Vice President Brian Gross. “We are actively hiring expert technologists here in Pittsburgh to further develop our platform and equip our resellers with payments APIs and out-of-the-box solutions to target specific verticals like healthcare, professional services, and sports and recreation.” Pineapple sees immense value in owning both the underlying payments technology and the value-added software tools utilized by merchants and consumers. However, Gross believes a customer first approach is the ultimate key to success. He said, “It’s about enabling commerce and solving data, finance, and business problems through technology, as well as controlling the payment transaction flows. When you put the customer’s needs first, you create sticky products that actually improve the experience of operating a business. This is precisely why a product like AthleteTrax is the perfect addition and something in which we want to continue to invest.”
ABOUT PINEAPPLE PAYMENTS
Pineapple Payments is a Pittsburgh, Pennsylvania-based payment processing technology company that provides omni-channel payment acceptance tools for merchants of all shapes and sizes. Its core payment gateway and suite of value-added payments tools are distributed by resellers nationwide, including some of the largest payment processing companies and Independent Sales Organizations. Pineapple offers both API based and out-of-the-box solutions for everything from Hosted Payment Pages and Recurring Billing to Invoicing and Bill Presentment. In 2017, Pineapple Payments received substantial investment for accelerated growth from Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, a global private equity firm.
ABOUT ATHLETETRAX
AthleteTrax is a Pittsburgh, Pennsylvania-based recreational sports software company. Founded in 2012, the company has grown to serve more than one hundred large scale sports leagues and facilities. Its product offers everything from a full-service point-of-sale and online sports program registration system to a facility rental portal and functionality for sports league management that includes scheduling, scorekeeping, statistics, and standings. The platform serves both youth and adult sports and a wide-range of facility types, including ice rinks, soccer arenas, and multi-sport complexes.