Benzinga | Jan 11, 2022 08:07AM EST

GreenBox POS Reports Purchase Of Roark Holdings For 150K In Shares

GreenBox POS (NASDAQ:GBOX) ("GreenBox", the "Company"), an innovative blockchain ledger fintech company, today announced it has entered into a binding agreement to acquire Roark Holdings Ltd, a United Kingdom based licensed payment institution, in an all-stock transaction for 150,000 shares.

Roark Holdings T/A Paysos.com is a respected UK payment institution which allows the licensor to process debit and credit card payments, in addition to local payments within the UK. Through this purchase, GreenBox accomplishes a significant strategic objective of expanding its wings across multiple markets, made possible with the technology capabilities of Roark Holdings.

"We are thrilled with GreenBox's impressive technology and its bold ambitions to grow the Roark business and revolutionize the industry. Their grasp of marketplace demands, coupled with solid financial backing translates to rapid growth and continued clients' satisfaction," said Venelin Videnov, United Kingdom Region, CEO of Roark Holdings LTD, DBA Paysos.

It's infrastructure and cutting-edge software were the key motivators for the acquisition. "Accumulating an array of technologies is vital to our long-term growth strategy, as GreenBox further progresses toward global expansion," commented Chief Business Development Officer, Pouya Moghavem. "This strategic transaction enables us to further GreenBox market share in this vastly opportunistic market."

With this acquisition, GreenBox will soon begin onboarding and processing merchant businesses throughout the United Kingdom.