Zipmoney Announces Completion of Pocketbook Acquisition

09/12/16 08:38 PM EDT
Zipmoney announced that it has completed the acquisition of the entire issued capital of Pocketbook Holdings for an upfront consideration of $6.0m plu
s a deferred consideration of up to an additional $1.5m (subject to prescribed performance milestones being achieved). Details of Pocketbook and the proposed acquisition were provided in the Notice of GM, lodged with ASX on 16 June 2016 and the Company's ASX announcement on 6 June 2016. The acquisition supports the Company's vision to create a new financial services model that is built around honesty, visibility and empowering consumers to make better financial decisions, improving their lifestyle. All Pocketbook staff will be retained including the founders, Alvin Singh and Bosco Tan.