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Easy2pay announces acquisition of Involtum to accelerate growth

Easy2pay announces acquisition of Involtum to accelerate growth
Easy2pay announces acquisition of Involtum to accelerate growth

Easy2pay, a payment service provider based in the Netherlands, has reportedly announced its intent to acquire Involtum Holding B.V., a firm that offers Internet of Things (IoT) transaction and smart activation platform.

Ease2pay plans to purchase all of Involtum's shares in return for 10,714,792 recently issued non-listed shares in the business. Involtum stockholders are estimated to control approximately 46.4% of the outstanding shares in the organization.

The integration of Ease2pay and Involtum activities is already in line with the company's strategic plan and marks the next stage in the EV charging industry.

Currently, Ease2pay and Involtum shareholders have agreed to subscribe for new shares worth €6,375,000 to help the merged firm develop faster.

With its own brands Walstroom, NomadPower, and AanUit.net, Involtum operates across Europe. By integrating user bases and leveraging separate technological platforms, the combined firm will be well-positioned to leverage from strong growth in the digital payment market plus unlock synergies.

Involtum and its employees will be fully incorporated into Ease2pay's activities and will be a member of a larger management team.

Gijs van Lookeren Campagne, Ease2pay's management board member, stated that Ease2pay will become the pioneering digital payment platform for shared transportation service providers as a result of this transaction, which will benefit from the impending energy transition.

Campagne added that Involtum's truck as well as cool trailer charging label (NomadPower) leads the European market and is very well suited to profit from the shift to electric trailer cooling and e-trucks. The firm can implement its ambitious expansion goal thanks to pledges from both Ease2pay and Involtum's management teams, along with long-term Ease2pay stockholders.

The company will be able to invest in the expansion of its merged businesses and leverage the combined platforms with revenues generated from the capital raise, Mr. Campagne added.

Source credit: https://www.globenewswire.com/news-release/2021/11/29/2341738/0/en/Ease2pay-announces-intended-acquisition-of-Involtum-and-capital-raise-to-accelerate-growth.html

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Vinisha Joshi

Vinisha Joshi

Despite graduating with an engineering degree in electronics and communication, Vinisha Joshi chose the road less travelled, and decided to pursue her career in content writing . Currently, she pens down articles for cuereport.com and a few other distinguished news platforms, pertaining to business and finance.