Total
0
Shares
Trius Investments (TSXV:TRU.H) to reactivate on TSXV
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Quisitive Technology Solutions (QUIS) is acquiring BankCard USA Merchant Services Inc
  • The stock purchase agreement is valued at US$100 million in cash and the issuance of 50,000,000 common shares in the capital of Quisitive
  • Quisitive believes the transaction will make it a payment technology leader
  • BankCard USA processes over US$3.0 billion of payments annually
  • Quisitive Technology Solutions is up 1.82 per cent, trading at C$1.68 per share at 3:19 pm ET

Quisitive Technology Solutions (QUIS) is acquiring BankCard USA Merchant Services Inc.

The stock purchase agreement is valued at US$100 million in cash and the issuance of 50,000,000 common shares in the capital of Quisitive.

Quisitive believes the transaction will vault the company forward, making it a payment technology leader.

BankCard USA processes over US$3.0 billion of payments annually for a diverse client base and has a strong in-house sales force

BankCard is an established all-in-one merchant payment services provider with over US$3.0 billion of payment volume which increased 31 per cent in 2020.

"The addition of BankCard USA to the Quisitive Payments Solutions family will bring our vision to life by combining a high-powered sales organization, robust risk management, and quality customer service with our innovative fintech platform, LedgerPay.

It is partnerships like these that elevate a great product to industry-wide transformation. I am proud to say that with the addition of BankCard USA, Quisitive Payments Solutions will have the team, the technology, and the strategic vision in place to redefine modern payments at scale," said Quisitive CEO Mike Reinhart.

BankCard shareholders have agreed to a 24-month lock-up agreement on the common shares with 25 per cent of common shares released on each 6-month anniversary of the transaction.

Quisitive Technology Solutions is up 1.82 per cent, trading at C$1.68 per share at 3:19 pm ET.

More From The Market Herald
CE Brands Inc - CEO and Chairman, Craig Smith - The Market Herald Canada

" CE Brands (TSXV:CEBI) announces additions to its senior operations team in Hong Kong and China

CE Brands (CEBI) is pleased to announce additions to its senior operations team in Hong Kong and China.
DelphX Capital (TSXV:DELX) approved to trade on the OTCQB Venture Market

" DelphX Capital (TSXV:DELX) approved to trade on the OTCQB Venture Market

DelphX Capital (DELX) has been approved to start trading on the OTCQB Venture Market.
Belgravia Hartford Capital - CEO, Mehdi Azodi. - The Market Herald Canada

" Belgravia Hartford (CSE:BLGV) sues Cartesian Capital affiliate

Belgravia Hartford (BLGV) has sued Cartesian Capital affiliate, PolyNatura Corporation, for US$12.2 million.
Fortress Technologies (TSXV:FORT) announces leadership transition and asset purchase agreement

" Fortress Technologies (TSXV:FORT) announces leadership transition and asset purchase agreement

Fortress Technologies (FORT) has appointed Antonin “AJ” Scalia as CEO and Thomas “Drew” Armstrong as president and COO.