Crypto-asset trading firm Voyager Digital has decided to acquire payments company Coinify in a deal which is worth $85 million in cash and stock.
Voyager said it would issue 5.1 million shares of its stock valued at roughly $70 million at the time of publication, as well as issue $15 million in cash to Coinify investors. The company said it would hold $5.5 million in cash from Coinify’s balance sheet.
The acquisition of Coinify is meant to help Voyager expand its abilities and potentially giving crypto users around the world options for cross-border payments. Voyager has been publicly listed in Canada since 2019, while Coinify was available in Europe, Asia, North America and South America.
Voyager co-founder and CEO Stephen Ehrlich said
“As the adoption of crypto currency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager’s digital asset ecosystem,”
The price of Voyager Token surged significantly in January as the company announced many acquisitions and mergers, rising from roughly $0.15 on Jan. 1 to a yearly high of $6.97 in February
