Brief: Financial technology company Adyen to buy U.S. billing platform company Orb
BRIEF-Financial technology company Adyen to buy U.S. billing platform company Orb June 11 (Reuters) - Adyen NV ADYEN.AS:
ADYEN TO ACQUIRE ORB TO UNIFY BILLING AND PAYMENTS INFRASTRUCTURE FOR ENTERPRISE MERCHANTS
TOTAL CONSIDERATION FOR TAKEOVER OF ORB IS $335 MILLION
BUYING ENTERPRISE BILLING PLATFORM ORB THROUGH A REVERSE TRIANGULAR MERGER
Upon closing, Orb will become an indirect, wholly owned subsidiary managed under an incubator model.
The total consideration for the transaction is $335 million, which Adyen will finance entirely from available cash resources.
Headquartered in San Francisco, Orb provides an infrastructure engine that tracks real-time usage data and translates complex pricing contracts for global enterprises.
Adyen reiterates its previously announced financial objectives, which remain unchanged and are stated independently of the proposed acquisitions of Orb and Talon.One.
Source text: [ID:]
Further company coverage: ADYEN.AS
(Reporting by Sudip Kar-Gupta)
((sudip.kargupta@thomsonreuters.com;))
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