Western Union announced that it had agreed to obtain the company International Money Express (Intermex) in a deal from all the two discussions worth $ 500 million, with the aim of enhancing its presence in the field of retail in North America and expanding the Latin American corridors.
Under the conditions, Western Union will pay $ 16 per Intermex class, which represents a premium of about 50 % to the average price for 90 days.
The treatment, which was approved by two companies unanimously, is expected to be closed in mid -2016 according to shareholders and organizational approvals.
Western Union said the acquisition will enhance the American retail platform, enhance flexibility, and improve access to customers throughout the Americas.
The operational experience of Intermex, the powerful agent network, and the in force the brand will accelerate the acquisition of digital customers in Western Union.
“This acquisition is a disciplined and strategy that enhances our operations in North America and expands our presence with the main consumer sectors throughout the United States,” said Divin McGranohan, President and CEO of Western Union.
Intermex CEO of Intermex described the deal as a “exciting opportunity” for shareholders, while strengthening the group’s full channel strategy.
Companies expect the annual cost of the annual rates of $ 30 million within two years, in addition to the potential revenue symbolism of the merging of products and distribution channels.
The deal is expected to accumulate immediately on the profits of the modified Western Union of the share of more than $ 0.10 in its full year.
PJT Partners Western Union advised, while financial technology partners and Bzard have behaved in favor of Intermex and the Strategic alternative Committee.