PayPoint plc (PAY.L) announced the completion of the acquisition of Verrus Mobile Technologies Inc. and of Verrus UK Ltd., which was announced on Thursday 4 March 2010. Verrus has been acquired for an initial consideration of £25 million plus £4 million deferred consideration and £4 million consideration contingent on the cumulative results of Verrus until 31 March 2013, the company stated.
In addition, PayPoint noted that it would benefit from substantial growth in the market for PayByPhone parking, extension of PayByPhone into other applications; and synergies from broadening PayPoint's service offering.
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