Quisitive Announces Agreement to Sell BankCard USA [Yahoo! Finance]
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Source: Yahoo! Finance
Pro Forma Adjusted EBITDA of US$16.4 million Meaningful Growth Initiatives in Microsoft Artificial Intelligence Services and Recurring Revenue TORONTO, March 27, 2024 (GLOBE NEWSWIRE) -- Quisitive Technology Solutions Inc. (“Quisitive” or the “Company”) (TSXV: QUIS, OTCQX: QUISF), a premier Microsoft Cloud and AI solutions provider, announced that it has entered into a definitive stock purchase agreement dated March 27, 2024 (the “ Agreement ”) pursuant to which Quisitive has agreed to sell its BankCard USA Merchant Services, Inc. (“ BankCard ”) business unit (the “ Transaction ”) to BUSA Acquisition Co. (the “ Acquiror ”), a Nevada incorporated entity owned by a consortium of current employees of BankCard, including Shawn Skelton, Scott Hardy and Jason Hardy, as well as other arm's length third parties. The details of the Transaction are set forth in the Agreement, which was negotiated at arm's length, and further summarized below. “Over the past twelve months, Quisitive's execut
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