Powa Technologies Ltd. acquired MPayMe Limited from Billing System Corporation and other shareholders for $75 million.
June 12, 2014 at 12:00 am EDT
Powa Technologies Ltd. acquired MPayMe Limited from Billing System Corporation (TSE:3623) and other shareholders for $75 million in stock on June 12, 2014. Powa Technologies issued 3% of its outstanding common stock as consideration for the purchase. The purchase consideration represents a 2.5 times revenue multiple. Lesley Gregory, Nick Alfille, Caitlin Malloy, Kate Seabourne, Tim Crosley and Jessica Gibbs of Memery Crystal LLP acted as a legal advisor for MPayMe Limited.
Powa Technologies Ltd. completed the acquisition of MPayMe Limited from Billing System Corporation (TSE:3623) and other shareholders on June 12, 2014.