Boku finalises consideration for Danal acquisition
Boku
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Mobile carrier commerce company Boku announced on Monday that 2,724,499 common shares have been issued to Danal shareholders, following the release of the common shares that were subject to holdback for 12 months following its acquisition of Danal on January 2019, as Boku had not filed any claims for indemnification.
The AIM-traded firm said that following the issue of the holdback shares, the total consideration it had paid to acquire Danal comprised the issue of 26,700,000 common shares, the issue of warrants over 1,634,699 common shares exercisable for five years at a price of £1.41 each, and $1m in cash.
No additional earn-out consideration was payable, the board confirmed.
It said the total purchase price accounted for the acquisition of Danal had now been finalised at $25.1m, being around 8.6% of its market capitalisation as at the close of business on 31 December.
“The acquisition of Danal brought Boku a strong US-focused mobile identity business with an established platform, a great customer base - including many global brands - and a team of experienced identity professionals,” said chief executive officer Jon Prideaux.
At 1531 GMT, shares in Boku were up 3.49% at 89p.