GreenBox Acquires Northeast Merchant Services for $2.5M Cash

by Anusuya Lahiri, Benzinga Editor
May 25, 2021 9:59 AM | 1 min read | Make a Comment
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  • GreenBox POS GBOX acquired merchant credit card processing services provider Northeast Merchant Services for $2.5 million in cash and an earn-out provision of $0.5 million based on achieving specific revenue targets.
  • Northeast Merchant Services offers countrywide merchant credit card processing services focused on the New England and upstate New York region. It also provides low-cost solutions to merchants who want a full-service provider.
  • This acquisition will help GreenBox build a significant retail book for adding more e-commerce accounts, GreenBox CEO Fredi Nisan said.
  • GreenBox held $35.7 million in cash and equivalents as of March 31, 2021.
  • Price action: GBOX shares traded lower by 1.78% at $10.21 on the last check Tuesday.
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