Merger deal of IME leads Euronet to increase share price by 2%

Malaysia, June-24 IME Sdn Bhd, a leading Malaysian-based money transfer provider, and Ria Money Transfer, the third largest global money transfer company, signed a merger and acquisition agreement on Tuesday.

Ria is a subsidiary of Euronet Worldwide. The purchase will be funded primarily by cash with a small amount of Euronet stock. After the merger, the company will be operated under the name IME Sdn Bhd.

The acquisition of IME provides Ria with immediate entry into the important Asian and Middle East send markets and will allow Ria to more quickly replicate

After the acquisition the share price of Euronet increased by 2% in NASDAQ index yesterday. The share price of Euronet was $ 60.94 Monday night which increased to $ 62.17 on Tuesday.

Euronet's share transaction on Tuesday was the maximum till date in NASDAQ.