Payment solutions provider for SMEs, Equals Group plc, today announced it has gained regulatory approval for the acquisition of Roqqett Limited from the UK Financial Conduct Authority.
The acquisition of the open banking payments platform, announced at the end of November 2022, is now finalised.
Under the terms of the deal, Equals had to make an initial £1.0 million cash payment, which as now been paid. This will be followed by three deferred payments one of up to £0.25 million in cash and two of £0.5 million, one in cash and the other in ordinary shares in Equals.
According to the official announcement the second and third payments are expended to be paid under one year and are due when certain capabilities are added to the platform.
