Tanla Solutions acquires an 85% stake of the Finnish company Openbit Oy, which provides global on device payments for mobile applications.
The agreed valuation of the total shareholding of Openbit is €12 million, of which Tanla is acquiring 85% from the outgoing financial investors.
The remaining 15% held by the management is to be purchased by Tanla in two tranches of 5% and 10% after the first and second year, respectively.
Openbit Ou is headquartered in Tampere, Finland with a Sales and Marketing office in Helsinki, Finland.