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Paymentus to Buy Fintech Firm Payveris for $152 Million (1)

Aug. 10, 2021, 3:10 PM

Paymentus Holdings Inc. agreed to buy digital-payments provider Payveris for $152 million in cash and stock.

Paymentus expects to close the acquisition of the Cromwell, Connecticut-based company in the third quarter, it said in a statement Tuesday, which confirmed an earlier Bloomberg News report. About 56% of the consideration will be in cash, with the rest to be paid in Paymentus class A common shares.

Paymentus shares climbed as much as 3.6% in New York trading and were up about 1% to $29.74 at 11:04 a.m. The stock has climbed more than 40% this year, valuing Paymentus at $3.5 ...