Mercury Global's strong regulatory standing in the UK, its strategic presence in South Africa as a gateway to the SADC market, and its robust banking partnerships, present an invaluable addition to Nukkleus
Nukkleus signs term sheet to acquire Mercury Global. (Credit: rupixen.com on Unsplash)
Nukkleus Inc. (NASDAQ: NUKK), a pioneering force in the fintech industry, is excited to announce that it has signed a term sheet for the acquisition of Mercury Global, a leading cross-border payments firm with operations in London and South Africa. This significant step marks Nukkleus’ strategic move to further strengthen its presence in the dynamic world of cross-border payments.
Under the proposed agreement, Nukkleus is set to acquire the entire issued share capital of Mercury Global, with the purchase price to be settled in a combination of Nukkleus Inc. common stock and cash. The deal includes an initial equity issue at closing, followed by additional earn-out payments in equity and cash. These subsequent payments are contingent upon achieving certain milestones related to business volume and client growth, employee retention, banking relationships, and the successful integration of technology. The transaction is subject to Nukkleus receiving relevant regulatory approvals in the UK.
Emil Assentato, CEO of Nukkleus, shared his enthusiasm about the potential acquisition, highlighting the strategic benefits: “This acquisition is a testament to our commitment to enhancing our cross-border payment capabilities. Mercury Global’s strong regulatory standing in the UK, its strategic presence in South Africa as a gateway to the SADC market, and its robust banking partnerships, present an invaluable addition to Nukkleus. We are poised to unlock new and enhanced revenue streams, thanks to increased volumes and an expanded service offering.”
Alastair Constance, CEO of Mercury Global commented: “We are excited about the prospect of joining forces with Nukkleus Inc. This strategic move aligns with our vision to expand our cross-border payments capabilities and reach new heights in the fintech industry. Nukkleus’ innovative approach and commitment to growth make them the perfect partner as we embark on this journey together.”
This strategic move is in line with Nukkleus Inc.’s vision to drive innovation and redefine standards in the financial industry. By integrating Mercury Global, Nukkleus not only strengthens its market position but also enhances its service offerings, ensuring greater efficiency, security, and inclusivity across the financial ecosystem.
Source: Company Press Release