Remitly to acquire Rewire for ~$80M in cash/stock; expected close H2 2022

Remitly Global, Inc.

Rewire is an Israeli fintech platform for migrant workers with account-based remittance product.
Consideration ~$80M: ~86% cash, ~14% Remitly common stock valued at $11.99/share.
Transaction subject to regulatory approvals from Dutch Central Bank and Israeli authority; expected close H2 2022.
Remitly does not expect material impact on 2022 revenue or adjusted EBITDA from the acquisition.
Rewire's product complementary to Remitly's corridors; adds engineering teams in Amsterdam and Tel Aviv.

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