Quisive宣布同意出售BankCard USA

2024-03-28 05:16

Quisitive Technology Solutions (OTCQX:QUISF) said on Wednesday it had entered into an agreement to sell its BankCard USA Merchant Services business unit to BUSA Acquisition.
The consideration to be received by QUISF for the sale of BankCard consists of $40M in cash, the return by the acquirer of ~133M common shares of QUISF, and delivery by the former vendors of BankCard of a settlement agreement releasing QUISF (and certain of its subsidiaries) of any and all obligations to pay a $10M earnout payment.
According to QUISF, BUSA Acquisition is owned by a consortium of current employees of BankCard, including Shawn Skelton, Scott Hardy and Jason Hardy, as well as other arm’s length third parties.
BankCard will continue to be led by Shawn Skelton as CEO, Scott Hardy as President, and Jason Hardy as COO, with Felix Danciu joining as CFO.
Press Release

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