Deluxe sells web hosting & logo design ops to HostPapa for $42M

DELUXE CORP

Aggregate base purchase price of $42M, with $31.4M at close and deferred payments.
Transaction expected to close in Q1 2023, subject to customary conditions.
Represents complete exit from web hosting and logo design market.
Employees in sold businesses will transition to HostPapa at closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DELUXE CORP entered into Stock and Asset Purchase Agreement with HostPapa, Inc. valued at $42,000,000 (effective 2023-01-31).

Action: entry
Agreement: asset purchase
Counterparty: HostPapa, Inc.
Value: $42,000,000
Effective: 2023-01-31

Exact text from the filing

On January 31, 2023, Deluxe Corporation, a Minnesota corporation (the “Company”), through its subsidiary, Deluxe Small Business Sales, Inc., a Minnesota corporation (“Seller”), entered into a Stock and Asset Purchase Agreement (the “Sale Agreement”) with HostPapa, Inc., an Ontario corporation (“Purchaser”).

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DELUXE CORP filing history →

Source: SEC EDGAR

accession 0001104659-23-008790

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