IIIV - i3 Verticals announces two acquisitions for $17.4M; issues stock options

i3 Verticals (IIIV) announced the acquisition of two software companies for aggregate cash consideration of $17.4M to be paid on closing; further strengthening its focus in the Healthcare vertical.The first acquisition is of a business based in the upper Midwest that provides both proprietary and third party software and services in multiple states primarily to healthcare customers.The second acquisition is of a southeast headquartered business that offers medical practice management software and solutions to its customers."These two businesses increase our product suites and footprint within our Healthcare vertical. In addition, we believe the payments opportunities for these two businesses are largely untapped and present us with additional growth potential," chairman & CEO Greg Daily commented.Wuth regards the acquisitions, the company granted options to purchase 225K shares of Class A common stock to 50 employees; stock options have an exercise price of $31.65.

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i3 Verticals announces two acquisitions for $17.4M; issues stock options