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Voyager Digital to Acquire Crypto Payment Company Coinify in $84M Deal

Under the deal, Coinify investors will be issued 5.1 million Voyager shares and $15 million in cash.

Aug 2, 2021 at 1:44 p.m. UTC
Updated Sep 14, 2021 at 1:34 p.m. UTC

Cryptocurrency broker Voyager Digital said it agreed to buy crypto payment company Coinify in a deal valued about $84 million in stock and cash.

  • The acquisition will provide Canadian Securities Exchange (CSE)-listed Voyager with a route into the crypto payment industry thanks to the Coinify platform's presence in Europe, Asia and the Americas, the company said Monday.
  • Under the deal, Coinify investors will be issued 5.1 million Voyager shares, worth about US$69 million, and US$15 million in cash. The shares closed Friday at C$16.9 (US$13.57).
  • Voyager will retain the $5.5 million of cash on Coinify's balance sheet.
  • Of the 5.1 million shares, just over 3.28 million will be subject to a lock-up period lasting either 12 months from the closing date or until Voyager is listed on Nasdaq, whichever is earlier, the company said.
  • No further information was offered by Voyager on a Nasdaq listing. Reference to it was made in this announcement purely as it relates to the share lockup, a Voyager spokesperson told CoinDesk.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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