Canadian payment firm Vogogo has completed the acquisition of all of the issued and outstanding shares of Vanado for an aggregate purchase price of $610,000, including the issuance of 227,273 common shares in the capital of the firm pursuant to a share purchase agreement.
The agreement also comprises certain post-closing payments of up to $1m payable in common shares conditional to the achievement of preset performance thresholds by Vogogo.
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With the acquisition of the Denver-based consulting and payment services company, Vogogo will expand its operational presence in the US market while supporting the payment servicing industry in the region.
Vogogo CEO Geoff Gordon said: "In addition to bringing several key resources into the Vogogo team, this acquisition expands our US operational presence allowing us to better support the US market."
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