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SoFi to Soak Up Galileo in $1.2B 'Cash-and-stock' Deal

Personal finance company SoFi will acquire Galileo for $1.2 billion in a “cash-and-stock” deal. So reports CNBC.

dollar 2891817 640smallThe deal will help facilitate new products, international expansions and capitalize on the ongoing consumer transition to digital finance. Galileo, a payments software company, has been around for more than a decade longer than Sofi and has a history or working with its competitors.

Unofficially, the deal is said to be comprised of “$75 million in cash, $250 million in seller financing debt and $875 million in company stock,” according to the article.

Read the full article from CNBC.

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