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Paypoint Enters Into Agreements To Acquire Verrus

Paypoint plc (PAY.L) said that it has entered into agreements to acquire the entire share capital of Verrus Mobile Technologies Inc and of Verrus UK Limited 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 consideration is payable in cash and will be settled out of existing resources.

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