Voyager Digital crypto-asset brokerage platform has announced the acquisition of Coinify, a purchase and payments company. Voyager plans have agreed to pay $85 million in cash plus 5.1 million shares of its stock, worth about $70 million at the time of writing.
Voyager Digital will also provide $15 million to Coinify investors-after completing the deal-the company will retain $5.5 million in cash from Coinfiy’s balance sheet.
In a statement on the acquisition, Voyager Digital CEO and co-founder Stephen Ehrlich noted that the acquisition of Coinify would be a big step in bringing a global payment infrastructure to the firm.
“As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings global payment infrastructure to Voyager’s digital asset ecosystem.”
The acquisition of Coinify will help Voyager expands its capabilities and probably giving crypto users globally a cheap cross-border payment option. Voyager is listed on Toronto Stock Exchange and is currently available in South America, North America, Asia, and Europe.
Voyager token had a significant rise this year, jumping from $0.15 in January to $6.97 in February. At the time of this writing, Voyager shares (VQX) has risen by 3 percent after the announcement of the Coinify acquisition.