Trintech Group Announces Acquisition of DataFlow Services

CW & Associates – which trades as DataFlow Services – has been acquired by Trintech Group for approximately $5 million. The consideration comprised initial cash consideration of $3 million,150,000 American Depositary Shares (ADSs) issued from Trintech Treasury Shares, with an approximate value of $570,000, and a performance based earn out over two years, which is estimated at $1.5 million. DataFlow provides a data delivery service supporting customer’s bank reconciliation processes. Commenting on the acquisition, Cyril McGuire, CEO of Trintech said, ‘This acquisition of DataFlow is another step in Trintech’s growth strategy in the funds and cash management market.’


Related reading