I3 Verticals, Inc. acquired Substantially All of the Assets of ImageSoft, Inc. from ImageSoft, Inc.
November 18, 2020
Share
i3 Verticals, Inc. (NasdaqGS:IIIV) acquired Substantially All of the Assets of ImageSoft, Inc. from ImageSoft, Inc. on November 17, 2020. Aside from the $40 million cash consideration, an amount of contingent consideration is also still being valued. In accordance with Nasdaq Listing Rule 5635(c)(4), the company has granted equity awards under its 2020 Acquisition Equity Incentive Plan to the new employees who agreed to join the company in connection with the acquisition. The company granted options to purchase a total of 250,000 shares of the company’s Class A common stock to 140 employees as a material inducement to enter into employment with the company. These stock options will vest ratably over three years, subject to the employees’ continued service to the company through each applicable vesting date. The stock options have an exercise price equal to $25.31, the closing price per share of the company’s Class A common stock as reported by Nasdaq on the date of closing.
i3 Verticals, Inc. (NasdaqGS:IIIV) completed the acquisition of Substantially All of the Assets of ImageSoft, Inc. from ImageSoft, Inc. on November 17, 2020.
i3 Verticals, Inc. builds, acquires, and grows software solutions in strategic vertical markets. The Company operates through two segments: Merchant Services and Software and Services. The Software and Services segment delivers vertical market software solutions to customers across all of its strategic vertical markets. These solutions often include embedded payments or other recurring services. The Merchant Services segment provides comprehensive payment solutions to businesses and organizations. Its Merchant Services segment includes third-party integrated payment solutions as well as traditional merchant processing services across its vertical markets. It offers integrated digital solutions offering dynamic processes to plan, coordinate, evaluate, record, and provide up to date information within court systems. It offers solutions for driver license, vehicle title and registration and motor carrier compliance for departments of transportation in the United States and Canada.
I3 VERTICALS, INC. 
