GreenBox Acquires Roark Holdings, Expanding Operations into United Kingdom
SAN DIEGO, CA, Jan. 11, 2022 (GLOBE NEWSWIRE) -- GreenBox POS (NASDAQ:GBOX) ("GreenBox", the "Company"), an innovative blockchain ledger fintech company, today announced it has entered into a binding agreement to acquire Roark Holdings Ltd, a United Kingdom based licensed payment institution, in an all-stock transaction for 150,000 shares.
Roark Holdings T/A Paysos.com is a respected UK payment institution which allows the licensor to process debit and credit card payments, in addition to local payments within the UK. Through this purchase, GreenBox accomplishes a significant strategic objective of expanding its wings across multiple markets, made possible with the technology capabilities of Roark Holdings.
"We are thrilled with GreenBox's impressive technology and its bold ambitions to grow the Roark business and revolutionize the industry. Their grasp of marketplace demands, coupled with solid financial backing translates to rapid growth and continued clients' satisfaction," said Venelin Videnov, United Kingdom Region, CEO of Roark Holdings LTD, DBA Paysos.
It's infrastructure and cutting-edge software were the key motivators for the acquisition. "Accumulating an array of technologies is vital to our long-term growth strategy, as GreenBox further progresses toward global expansion," commented Chief Business Development Officer, Pouya Moghavem. "This strategic transaction enables us to further GreenBox market share in this vastly opportunistic market."
With this acquisition, GreenBox will soon begin onboarding and processing merchant businesses throughout the United Kingdom.
About GreenBox POS
GreenBox POS (NASDAQ:GBOX) is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company's applications enable an end-to-end suite of turnkey financial products, helping to reduce fraud and improve the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, we invite you to visit the Company's website at www.greenboxpos.com.
Forward-Looking Statements Disclaimer
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
Investor Relations Contact
Mark Schwalenberg
MZ Group - MZ North America
312-261-6430
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www.mzgroup.us
