San Antonio s Usio acquires Information Management Solutions assets
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Louis Hoch is CEO and president of San Antonio-based Usio Inc.Courtesy photo
Usio Inc., a San Antonio-based provider of electronic payment processing services, announced Wednesday it has acquired the assets of Information Management Solutions LLC.
The purchase price was a combination of $5.9 million and warrants. The warrants give IMS shareholders the rights to buy Usio stock at a price of $4.23 and within a term of five years after vesting. The warrants will vest in three annual installments of 315,200 on the anniversary of the issue date. Usio’s shares closed unchanged at $1.99 Wednesday.