Boku Inc Release of final earn-out amount re Fortumo (6342L)
September 14 2021 - 1:00AM
UK Regulatory
TIDMBOKU
RNS Number : 6342L
Boku Inc
14 September 2021
14 September 2021
Boku, Inc.
("Boku" or the "Company" and, together with its subsidiaries,
the "Group")
Release of final earn-out amount - Acquisition of Fortumo
Holdings Inc.
Boku (AIM:BOKU), a leading global mobile payment and mobile
identity company, acquired the entire issued share capital of
Fortumo Holdings, Inc. and its subsidiaries ("Fortumo") (the
"Acquisition") on 1 July 2020 .
As part of the terms of the Acquisition, 12% of the total
maximum consideration, equating to approximately USD$5.4 million
(GBP4.3 million), was held in escrow, subject to Fortumo's
EBITDA-earn-out, working capital and indemnity conditions.
A final earn-out payment of USD$2.16 million based on Fortumo
Adjusted EBITDA performance for the 12 months to 30 June 2021 has
been released from escrow and paid on 10 September to Fortumo's
selling shareholders. The balance of USD$3.24 million was returned
to Boku.
For further information, please contact:
Boku, Inc.
Jon Prideaux, Chief Executive Officer 020 3934
Keith Butcher, Chief Financial Officer 6630
Peel Hunt LLP (Nominated Adviser and Broker) 020 7418
Edward Knight / Paul Gillam / James Smith 8900
IFC Advisory Limited (Financial PR & IR)
Tim Metcalfe / Graham Herring / Florence 020 3934
Chandler 6630
Notes to Editors
Boku Inc. (AIM: BOKU) is a leading global provider of mobile
payment and identity solutions. Its Mobile First Payments Network
'M1ST' features 330+ mobile payment methods, including mobile
wallets, direct carrier billing, and real-time payments schemes,
reaching 5.7 billion mobile payment accounts in 90 countries - all
through a single integration.
Customers that trust Boku to simplify sign-up, acquire new
paying users and prevent fraud include global leaders such as
Apple, Facebook, Google, Microsoft, Netflix, PayPal, Sony, Spotify
and Tencent.
Boku Inc. was incorporated in 2008 and is headquartered in
London, UK, with offices in the US, India, Brazil, China, Estonia,
France, Germany, Indonesia, Japan, Singapore, Spain, Taiwan and
Vietnam.
To learn more about Boku Inc., please visit:
https://www.boku.com .
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