Square, a US-based mobile payments company, has purchased Toronto-based payment processing company Kili Technology for an undisclosed sum.
Kili Technology develops silicon, electronics, and software tech that simplifies and optimizes the payment process.
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Following the acquisition, Kili team of 30 staff will continue to operate in Toronto, which will act as Square’s second office in the country.
As part of the deal, the firms will work together to provide simple and affordable hardware that gives their sellers a smarter and safer way to do business.
Last year, Square opened an office in Kitchener-Waterloo, Canada. The office currently employs 10 staff and the company plans to hire 20 more by the end of this year.
Square’s hardware lead Jesse Dorogusker said: "The payments landscape is changing faster than ever — from EMV to NFC — and we know that major technology shifts often leave small businesses behind."
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