TechX Technologies Inc disclosed Monday that it has bought fiat-to-crypto merchant services gateway XPort digital. The firm has bought a 100% stake in XPort Digital Limited. XPort has gained recognition as the provider of credit card processing for cryptocurrency exchanges, wallets, and other cryptocurrency businesses.
After the acquisition deal, Aaron Carter will continue his position as the CEO of XPort. Mr. Carter will serve the firm using his deep knowledge of the financial industry. In addition to this, he has worked with various fortune 500 firms in investment banking, online brokerage, market data, and a top US equity exchange.
Aaron’s main objective is to make a firm that is, not only a key player in the crypto space but one of the sophisticated industry leaders that other firms see as a standard for performance. Moreover, the CEO is happy to join TechX team and is confident to build a profitable business.
Financial Details of Transaction
Furthermore, TechX has inked a share purchase deal with shareholders. According to the deal, the shareholder of XPort will dump all of the shares issued and outstanding in XPort in consideration of the grant of 5,252,100 common shares in the capital of the firm at an estimated value of $0.952 per share for a total cumulative payment of C$5,000,000.