Taylor Wessing has advised Boku Inc., a leading global mobile payment and mobile identity company, on its conditional acquisition of Fortumo Holdings, a transaction valued at a maximum enterprise value of $41 million. The acquisition will cement the Group's positioning as a leading mobile payment and mobile identity solutions company.
Taylor Wessing advises on complex public M&A transaction for Boku Inc.
The acquisition will be funded by an unconditional placing to raise gross proceeds of up to approximately $25 million and new bank facilities of approximately $20 million. The transaction is expected to complete on 1 July 2020.
Boku works with Apple, Google, Microsoft, Facebook, Spotify and some 200 carriers to allow users to pay for digital goods like apps and subscriptions via their mobile bills.
Taylor Wessing served as UK legal counsel to Boku in collaboration with Wilson Sonsini, which served as US counsel in the transaction.
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