Pursuant to the terms of the proposed Transaction, Prodigy would receive cash consideration of up to
Following completion of the Transaction, Prodigy intends to focus its efforts on its IDVerifact and FICANEX Technology businesses while continuing to review additional M&A opportunities and other strategic alternatives. This transaction completes the strategic transformation of Prodigy into a pure SaaS platform business, which has been its objective since inception.
The Transaction remains subject to the receipt of all applicable regulatory and third party approvals, including the approval of the
The Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
About
Prodigy delivers Fintech innovation. The Company provides leading edge platforms, including IDVerifact™ for digital identity, and tunl.™ for open banking and customer chat support, coupled with seamless integration of our partners best-of-breed Fintech platforms. Our services business, Prodigy Labs™, which is the business being sold, provides technology services for digital transformation. Digital transformation services include strategy, architecture, design, project management, agile development, quality engineering and staff augmentation. Prodigy has been recognized as one of
About UST
For more than 22 years, UST has worked side by side with the world's best companies to make a real impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Through our nimble approach, we identify their core challenges, and craft disruptive solutions that bring their vision to life. With deep domain expertise and a future-proof philosophy, we embed innovation and agility into our clients' organizations—delivering measurable value and lasting change across industries, and around the world. Together, with over 30,000 employees in 30+ countries, we build for boundless impact—touching billions of lives in the process. Visit us at www.UST.com.
Forward-Looking and Cautionary Statements
Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Such forward looking information includes references to the terms and conditions of the Transaction and the ability to satisfy the closing conditions. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the risks that the parties will not proceed with the Transaction; the delay or failure to receive all applicable regulatory and third party approvals or satisfy all applicable closing conditions; and risk factors set forth in the Company's Management's Discussion and Analysis for the three and six months ended
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SOURCE
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