on The Market Herald (CVE:DM)
Datametrex to Acquire Yuzu Payment Solution
Datametrex AI Limited announced a Letter of Intent (LOI) to acquire the Yuzu payment processing solution from Montreal-based Firstpayment Inc. This deal includes patents and intellectual property for approximately $5.5 million, to be satisfied through 55 million Datametrex common shares at $0.10 each. Key conditions include TSXV acceptance and legal due diligence with completion contingent on regulatory approvals.
Yuzu Payment Solution specializes in cryptocurrency payment processing, holding a portfolio of 10 patents. Despite no revenues so far, Datametrex plans to commercialize the solution. Michael Kron, CEO of AnywhereCommerce, Firstpayment's parent company, is anticipated to join Datametrex's management upon closing.
The acquisition aligns with Datametrex's strategy to enhance its AI and tech division, aiming to utilize Yuzu's assets and relationships with merchants across various sectors. Trading of Datametrex shares might be paused during the TSXV review.
R. E.
Copyright © 2025 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all The Market Herald news