OLB Group acquires CBD merchant portfolio from FFS Data for $20M in cash and escrow

OLB GROUP, INC.

OLB pays $16M at closing, $2M in 6 months, and $2M in escrow subject to revenue attrition adjustment.
Acquisition includes merchant accounts, customer lists, IP, and residuals from Oct 1, 2021.
10-year non-compete and non-solicitation covenant against seller and its principals.
Total consideration of $20M; escrow funds released after 1 year based on revenue shortfall threshold of 20%.

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