Brief: Vogogo to sell risk platform; says shutting down payment processing business
05/07/2016 21:06
July 5 (Reuters) - Vogogo Inc VGO.V
* Vogogo inc. Announces update on strategic alternatives
process and sale of certain assets
* There will be residual assets that special committee
intends to monetize,notably electronic money institution
authorization granted by fca in uk
* Commenced process of notifying third parties, and also all
of corp's employees, that it will be shutting down its payment
processing business
* Board has concluded by selling vogogo's risk platform and
shutting down its payment processing business
* Chief financial officer, tom wenz, will cease full-time
employment at end of july 2016 and is expected to continue for a
period on a part-time basis
Source text for Eikon: ID:nMKWMhlD6a
Further company coverage: VGO.V
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