Business
BlueOne Card Inc., Announces Definitive Agreement to Acquire Millennium EBS, Inc. in a $12 Million Deal
BlueOne Card Inc., Announces Definitive Agreement to Acquire Millennium EBS, Inc. in a $12 Million Deal.
About this update from Blueone Technologies, Inc.
[{"type":"text","content":"\n LOS ANGELES, Oct. 25, 2024 (GLOBE NEWSWIRE) -- BlueOne Card, Inc. (OTCQX: BCRD) (“BlueOne Card,” the “Company”), a leading fintech provider of payment hub solutions and prepaid debit cards, today announced that it has entered into a definitive agreement to acquire equity interest of 60% in Millennium EBS, Inc. The transaction is valued at $12 million. This acquisition positions BlueOne Card to emerge as a prominent payment hub and prepaid debit card provider, significantly expanding its reach and capabilities globally in the fintech sector. The acquisition includes ownership of the Millennium EBS Payment Hub, an advanced payment orchestration and modernization platform that efficiently manages payments across multiple networks. This strategic move will enhance BlueOne Card's ability to deliver a unified payment hub platform for small and medium-sized financial institutions worldwide. Revenue Growth: The combined company anticipates potential revenue growth up to $10 million in revenue over the next year, driven by the new integrated Payment Hub platform.Stock Transaction: Millennium EBS shareholders will receive approximately 17% equity ownership stake in BlueOne Card, while BlueOne will own a 60% stake in Millennium EBS.Synergies: The acquisition is expected to create substantial synergies by integrating Millennium EBS’s advanced payment orchestration platform with BlueOne Card’s established international platform, accelerating both domestic and global growth.Future Outlook: The Company aims to work towards meeting NASDAQ listing requirements by Q4 2026, subject to market conditions and other factors. Significance of the AcquisitionThe Millennium EBS Payment Hub has successfully enabled a major banking institution in Sri Lanka to transition to ISO20022 standards and is now in use, showcasing its role as the ultimate solution for banks seeking scalability, compliance, and secure financial messaging. The platform integrates diverse payment systems into a cohesive framework, offering seamless multi-channel payment processing. This acquisition shifts BlueOne Card's position from a planned leasing agreement to full ownership, enabling us to provide payment services directly to banks and generate significant revenue from financial institutions that utilize our platform. Strategic Goals Empowerin...