Tuesday, August 03, 2021
Voyager Digital Ltd. (VYGVF)(VYGR:CA)
To Acquire Cryptocurrency Payment Processor
Voyager Digital Ltd through its subsidiary, operates as a crypto asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. The company offers investors execution, data, wallet and custody services through its institutional-grade open architecture platform.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Coinify Acquisition. Continuing its expansion of its digital asset ecosystem, Voyager Digital is acquiring Coinify ApS, a leading cryptocurrency payment platform with a global user base in over 150 countries. Payment will consist of 5.1 million shares and $15 million of cash. Based on Friday’s closing price, this amounts to approximate total consideration of $84.3 million. The transaction is expected to be immediately accretive to both revenue and cash flow. Notably, key members of the management team are staying.
Multiple Benefits. The Coinify acquisition brings multiple benefits to Voyager. First and foremost, Voyager’s nearly 2 million customers now have a fast, easy, and secure way to make payments from their Voyager accounts. The acquisition also accelerates Voyager’s international expansion, as Coinify has users in over 150 countries. Finally, Coinify should help expand Voyager into the …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
