Lucosky Brookman LLP represents GreenBox POS in Acquisition of ChargeSavvy LLC
Lucosky Brookman LLP congratulates its client GreenBox POS (NASDAQ: GBOX), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions, for closing upon the acquisition of ChargeSavvy LLC, a financial technology company specializing in retail payment processing and POS systems.
The Firm was proud to be able to assist the company as corporate and M&A counsel as it continues to work to build shareholder value.
The acquisition is immediately accretive and adds over $3 million in net income to third quarter 2021 financial results. The acquisition also bolsters GreenBox balance sheet adding a significant cash surplus.
ChargeSavvy brings an impressive merchant client portfolio and POS System with biometric technology for fraud detection. When combined with the GreenBox blockchain ledger and stablecoin technology, the result is a best-in-class POS and payment processing solution.
ChargeSavvy's equity partners have been retained to continue operating the subsidiary as it continues to grow exponentially. During the due diligence period, the two companies have already worked through personnel, operational, and customer onboarding integration challenges allowing GreenBox to quickly realize synergies and continue on its rapid growth trajectory.