EML Payments (ASX:EML) completed the sale of its Sentenial business, including Nuapay services, to GoCardless for an enterprise value of about 32.8 million euros, according to a Tuesday filing with the Australian Securities Exchange.
The company disclosed on March 15 that it has reached a deal with GoCardless to sell Sentenial as it was determined to be non-core to group operations, the filing said.
The company will receive an earnout payment from GoCardless for contracts signed by Sentenial between February and October, based on the first year's revenue multiplied by 4.1.
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