Mobile billing and payment vendor eServGlobal (ASX:ESV) has completed the sale of its USP business and related products to Oracle for $107 million.
The sale, which was approved by shareholders in June, is expected to result in a tax liability of $9 million. But the majority of Australian taxes will generate franking credits.
“We are pleased to have completed this transaction and look forward to the exciting opportunities our remaining businesses will provide,” eServGlobal CEO Richard Mathews said.
ESV shares have today increased 2.78% to $0.555.
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