GRBX - GreenBox POS to acquire ChargeSavvy for $31.2M

GreenBox (GRBX) entered into a non-binding MOU to acquire ChargeSavvy, a financial technology company specializing in payment processing and POS systems, for $31.2M in restricted GreenBox POS common stock.The transaction indicating $2/share is expected to be immediately accretive.The company believes that ChargeSavvy's high-margin, state-of-the-art point of sale system and back-end technology perfectly complements GreenBox's payment solutions.In 2020, ChargeSavvy processed payments of $500M+, generating revenues of $30M+ and an EBITDA of ~$14M.Based on pre-determined profitability performance metrics over the next 12 months, the total maximum consideration for the transaction could reach $52M.

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GreenBox POS to acquire ChargeSavvy for $31.2M