SAFECHARGE acquires CREDITGUARD LTD
SafeCharge (AIM: SCH), a leader in advanced payment technologies, today announces the acquisition of CreditGuard Ltd (“CreditGuard”), for an initial cash consideration of US$8 million (NIS 31.4 million) and deferred consideration capped at US$0.4 million (NIS 1.7 million), subject to customary closing adjustments, (the “Acquisition”). The Acquisition is expected to complete in January 2015.
The acquisition of CreditGuard marks a further milestone in the execution of SafeCharge’s strategic plan aimed at entering new and rapidly growing markets and sectors bringing with it a portfolio of clients from sectors including travel, insurance, telecoms and government.
Source: SafeCharge – SAFECHARGE acquires CREDITGUARD LTD
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