Crunchfish intend to acquire a payment platform company in India
Crunchfish have signed a Letter of Intent to acquire a payment platform company based out of India. The acquisition will increase the company’s presence in India and expand the product- and patent portfolio. The aim is to close the intended acquisition in Q2 2023.
Figure: The intended acquisition will extend Crunchfish Digital Cash product portfolio as illustrated above.
To establish an operation in India is important for Crunchfish to be present where most real-time transactions are processed in the world. Crunchfish have today signed a Letter of Intent to acquire a payment platform company based out of India. A due diligence process will start immediately having the Crunchfish management team in India this week. Once the transaction is closed, the intended acquisition will increase the company’s presence in India and expand its product- and patent portfolio.
The potential acquisition will not impact the relations with existing payment platform partners. Digital Cash integrations into their solutions are key as Digital Cash will be distributed to their customers.
The acquisition is expected to be closed in Q2 2023 and financed by using existing cash in Crunchfish.
More details on the acquisition will be disclosed when the deal is closed.
For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com
This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 1 March 2023 at 08:00 CET.
Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.
About Crunchfish – crunchfish.com
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.
