Banc of California Inc

NYSE:BANC   3:59:54 PM EDT
-0.17 (-1.01%)
Mergers / Acquisitions

Banc Of California Acquires Deepstack Technologies For $24 Million

Published: 09/15/2022 23:21 GMT
Banc of California Inc (BANC) - Banc of California Enters Payment Processing Business With Acquisition of Deepstack Technologies.
Banc of California- Transaction is Expected to Be Neutral to Consensus Earnings per Share Estimates in 2023 and Expected to Be Accretive Thereafter.
Banc of California - Acquired Deepstack Technologies,for $24 Million in Cash and Stock.
Transaction is Expected to Be About 2.7% Dilutive to Tangible Book Value per Share.
Banc of California- Transaction Includes a Three Year Earn Out Beginning in 2023 to Be Paid From Operating Profits of the New Subsidiary.