Alternative payment solutions and transactions company Pure Vanilla eXchange Inc., through its wholly owned subsidiary PVNX Acquisition Corp., has entered into an Agreement and Plan of Merger with the intent of acquiring Nimble Group Inc.
Pure Vanilla is the maker of the anonymous pV card and host of the Pure Vanilla Tailgate Tour. Nimble Group provides end-to-end payment solutions for high-frequency, multi-unit retailers and government agencies.
If the merger is successful, Nimble will become a wholly-owned subsidiary of Pure Vanilla, which will gain Nimble technology that facilitates stored-value card and online payment processing.
“By combining these two companies, we expect to increase shareholder value by broadening the product line, leveraging the assets of the technology, and allowing for a more efficient use of overheard,” Steven Yevoli, chairman of Pure Vanilla’s board of directors, said of the pending merge in a prepared statement. “We are excited by the opportunity presented by this merger to accelerate the execution of our plan.”
Representatives for the companies were not available to comment at press time.
Consummation of the merger is subject to certain closing conditions.
