TORONTO and TAMPA, Fla., Sept. 22, 2022 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that, further to the news release issued on August 15, 2022, it has completed the acquisition (“Acquisition”) of Blue Water Financial Technologies Holding Company, LLC (“Blue Water”).
“By fusing Blue Water’s digital asset capabilities with Voxtur’s data repository and analytic solutions, we are creating a powerful and sophisticated new platform to streamline mortgage trading,” said Voxtur CEO Jim Albertelli. “This Acquisition allows Voxtur to diversify and expand existing revenue streams from the primary mortgage market, while adding new revenue streams in the secondary market.”
Blue Water is a high-growth business that had approximately US$11.4 million of revenue and US$6.7 million of net income for the fiscal year ending December 31, 2021. For the trailing twelve months (“TTM”) ending July 31, 2022, Blue Water generated approximately US$18 million of revenue and US$11 million of net income, with increasing run rates for revenue and net income during that period1.
Consideration for the Acquisition
Total consideration for the Acquisition was approximately US$101 million, consisting of a cash payment in the amount of US$30 million and issuance of 170 million common shares…