Western Union Seals $500M Intermex Deal to Command Americas Money Transfer Race
Main Idea
Western Union acquires Intermex for $500 million to expand its money transfer services in the Americas, leveraging Intermex's Ripple partnership and technology.
Key Points
1. Western Union's $500 million acquisition of Intermex includes a $16.00 per share offer, representing a 50% premium to Intermex's 90-day average price.
2. The deal is expected to deliver $30 million in annual cost synergies and boost Western Union's adjusted earnings per share by over $0.10 in its first year.
3. Intermex serves 6 million customers and has a 2020 partnership with Ripple Labs, utilizing RippleNet's On-Demand Liquidity (ODL) product for fast, low-cost transactions.
4. The acquisition aims to expand Western Union's reach in the Americas and enhance its technology capabilities.
5. The transaction is projected to close by mid-2026, pending regulatory approvals.
Description
Western Union is set to expand its global reach with a $500 million Intermex acquisition, adding Intermex’s Ripple partnership to its arsenal of cross-border payment capabilities. Western Union Accelerates Global Expansion with Intermex Acquisition Western Union (NYSE: WU) and International Money Express Inc. (Intermex) (NASDAQ: IMXI) announced on Aug. 10 that they have entered into
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