Edition:
India

Zip Enters Agreement To Buy Partpay Ltd


Tuesday, 20 Aug 2019 

Aug 20 (Reuters) - Zip Co Ltd ::ENTERED INTO AN AGREEMENT TO ACQUIRE 100% OF SHARES IN GLOBAL INSTALMENT TECHNOLOGY PLATFORM, PARTPAY LIMITED.CONCURRENTLY AGREED TO ACQUIRE A DIRECT STRATEGIC EQUITY INTEREST IN NEW YORK BASED QUADPAY INC..PARTPAY ACQUISITION INVOLVES TOTAL UPFRONT CONSIDERATION OF NZ$50.8 MILLION.ACQUISITION CONSIDERATION WITH EARN-OUT OF UP TO NZ$15.0 MILLION BASED ON CERTAIN PERFORMANCE MILESTONES BEING ACHIEVED DURING FY20 AND FY21.