WPF Holdings Inc (OTCMKTS:WPFH) Stock In Focus After Acquisition News
Newly acquired subsidiary of WPF Holdings Inc (OTCMKTS:WPFH), Vezbi Inc on May 4, 2023, announced the acquisition of Ingenia AI’s digital wallet asset for $10M in stock and cash deal. The company will be integrating the digital wallet technology into Vezbi Super App as part of the plan to give payment solutions to businesses and rebrand as Vezbi Pay™.
Trading Data
On Thursday, WPFH stock jumped 2.04% to $27.01 with more than 3.06K shares, compared to volume of 541 shares. The stock moved within a range of $26.00 – 27.50 after opening trade at $26.50.
Vezbi Super App Completes $10m Acquisition of Digital Wallet
Open Banking Technology and the addition of Vezbi Pay™ will enable Vezbi to increase personalization, create a payment ecosystem and enable users to integrate all their financial and banking institutions with other Vezbi users.
John Corpus, Ingenia AI’s Managing Partner, would be joining as part of the board of directors of WPF Holdings and Vezbi. Previously engaged as President and CEO of Photobucket as well as CIO of Mervyns, Corpus brings both experience and knowledge. He has experience in the tech industry as well as executive management helping guide the development of the Vezbi Super App.
A community-driven Super App, Vezbi is designed to organize different facets of life in a single application. It is novel as it is committed to no algorithm, no anonymity, as well as no data selling. The company believes that this is the first true Super App in the country and will reduce fake news, reviews as well as online bullying.
