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Givex Closes Acquisition of UK Fintech Counter Solutions
Tuesday 16 August 2022

Canada-based fintech company Givex Information Technology Group LTD (TSX: GIVX) (OTCQX: GIVXF) has completed the purchase of all of the outstanding shares of UK-based hospitality industry cashless systems provider Counter Solutions Holdings LTD, the company said.

Founded in 1989, UK-based Counter Solutions offers many technology solutions that align with Givex's products, including POS, kiosk and digital ordering, inventory management and others.

Givex said it was attracted to Counter Solutions' WAY2PAY self-service and smart-refrigeration platform, which allows customers to unlock refrigerators by preauthorizing a debit or credit card on a pin pad, and select, scan and pay for their items themselves.

Now, with the support of Givex's end-to-end technology platform and team, Counter Solutions can seamlessly offer Givex products, like GivexPOS, online ordering, kitchen display system and more, to its roster of enterprise clients without having to create partnerships with various external partners.

The acquisition will be paid for through a combination of cash, debt and GITL shares (subject to the final acceptance by the Toronto Stock Exchange) and total consideration will be consistent with prior acquisition multiples and terms.

Givex (TSX: GIVX) (OTCQX: GIVXF) is a global fintech company providing merchants with customer engagement, point of sale and payment solutions, all in a single platform.
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Date Published: 16/08/2022

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