Verra mobility corporation (nasdaqcm:vrrm) completed the acquisition of pagatelia s.l. for $27.9 million.

Verra mobility corporation (nasdaqcm:vrrm) signed an agreement to acquire pagatelia s.l. on october 16, 2019. upon completion, pagatelia's employees will become part of verra mobility corporation. the transaction is subject to customary closing conditions and expected to close at the end of october 2019. ÍÑigo gÓmez-jordana, paz de la iglesia and paula gonzÁlez de castejÓn of dla piper acted as legal advisors to verra mobility corporation. verra mobility corporation (nasdaqcm:vrrm) completed the acquisition of pagatelia s.l. for $27.9 million on october 31, 2019. the deal value is subject to customary post-closing adjustments based on a working capital formula. verra mobility corporation funded the acquisition with existing cash on hand. pagatelia’s operating results are not expected to be material to verra mobility corporation's consolidated financial statements and will be included in the commercial services segment from the date of acquisition. verra mobility corporation expects that this acquisition will accelerate its expansion of tolling solutions across europe.
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