This acquisition accelerates Voyager’s expansion by improving its capabilities in cryptocurrency payments. From then on, Voyager customers will be able to pay directly from their accounts. In addition, the acquisition of Coinify has accelerated Voyager’s development in the field of business-to-business encrypted payments.
“The acquisition of Coinify brings a global payment infrastructure to Voyager’s digital asset ecosystem; it will provide our growing customer base of more than 1.75 million users with a fast, simple and secure way to pay from their Voyager account. “
– Stephen Ehrlich, CEO and co-founder of Voyager
Travel + Coinify
The acquisition of Coinify provides Voyager with an established portal for encrypted payments through its virtual currency payment platform available in Europe, Asia, North America and South America. Coinify’s corporate services include personal payment processing in 15 major cryptocurrencies and transaction settlement in 20 fiat currencies through its easy-to-integrate Coinify API.
“We are very pleased to join Voyager’s outstanding innovation team; and become part of Voyager’s market-leading products, brands and communities. And use Coinify’s payment processing technology to rapidly develop merchants. This merger makes Voyager a tool for efficient transactions on a global scale. The first choice for companies and individuals who buy widely within.”
– Mark Hojgaard, CEO and co-founder of Coinify
Summary of transaction terms
According to the terms of the share purchase agreement; Coinify’s shareholders’ consideration will include 5,100,000 shares of Voyager Digital Ltd.’s newly issued common stock and US$15 million in cash. As part of the agreement, Voyager will keep $5.5 million in cash on Coinify’s balance sheet.
In addition, Voyager will largely retain all existing Coinify employees and sign employment agreements with key members of the management team. It is expected that today’s transaction will immediately increase revenue and cash flow.
In this transaction, Fort Capital Partners acted as Voyager’s financial advisor. Stifel KBW acted as financial advisor to Coinify. Voyager’s legal advisors are Fasken, Baker McKenzie and Accura. Bruun and Hjejle served as legal counsel to Coinify.