Accredited Solutions Plans Strategic Acquisition of Leading Fintech Firm
TL;DR
Accredited Solutions' acquisition of a leading B2B distributor of e-gift cards will accelerate growth and provide a significant competitive advantage.
The potential acquisition aligns with Accredited Solutions' growth strategy and includes plans to integrate marketing and administrative functions.
The acquisition will unlock new avenues of expansion, drive significant growth, and create exciting new opportunities in the fintech space.
Accredited Solutions plans to develop new products and APIs to enable the target’s integration with other fintech companies and entry into new international markets.
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Accredited Solutions, Inc. (OTC: ASII), the parent company of Diamond Creek Water, has announced the execution of an Indication of Interest ("IOI") letter to acquire a leading US-based B2B distributor of third-party e-gift cards. The target company reported $33.7 million in sales in 2023 and is projected to achieve a 2024 revenue run-rate of $42.5 million while being profitable on a net income basis.
This potential acquisition aligns with Accredited Solutions' growth strategy, which aims to accelerate the target company's growth through the infusion of additional capital and resources. The strategy includes integrating marketing and administrative functions of both companies and leveraging cross-selling opportunities with future acquisitions by Accredited Solutions. The combined company is expected to scale rapidly and Accredited Solutions plans to develop new products and APIs to facilitate the target's integration with other fintech companies and expansion into new international markets.
Eduardo Brito, CEO of Accredited Solutions, Inc., expressed optimism about the acquisition, stating, "The combination of Accredited Solutions' resources and the target’s established presence in the fintech space provides an exciting opportunity to drive significant growth and value. While we remain prudent in our projections, we are confident that this acquisition will unlock new avenues of expansion and accelerate our 5-year growth plan."
The acquisition process will advance to a more binding Letter of Intent ("LOI") once Accredited Solutions confirms its ability to complete a timely audit. Following the audit, the company expects to move towards finalizing the deal under the terms established in the LOI.
Accredited Solutions is optimistic about the viability of the transaction, although the final decision will depend on the audit's completion. The company's outlook remains very positive as it anticipates a smooth process towards closing the deal.
For more details on the IOI, please refer to the 8K filing made this morning.
Curated from NewMediaWire
