SoFi Acquires Payment Processor Galileo in $1.2 Billion Deal
Source Node:
https://cointelegraph.com/news/sofi-acquires-payment-processor-galileo-in-12-billion-deal
California-based and crypto-friendly financial firm Social Finance — SoFi — is acquiring the digital payment platform Galileo.In an April 7 press release, SoFi announced that it has signed an agreement to pay $1.2 billion for Galileo Financial Technologies. According to a CNBC report, the payment will consist of $75 million in cash, $875 million in stock, and $250 million in seller financing debt.SoFi CEO Anthony Noto addressed how the partnership will help in the current financial market:“Together with Galileo, we will partner to build on our companies’ strengths to drive