BlueOne Card Inc., Announces Definitive Agreement to Acquire Millennium EBS, Inc. in a $12 Million Deal
Source: GlobeNewswireLOS ANGELES, Oct. 25, 2024 (GLOBE NEWSWIRE) -- BlueOne Card, Inc. (OTCQX: BCRD) (“BlueOne Card,” the “Company”), a leading fintech provider of payment hub solutions and prepaid debit cards, today announced that it has entered into a definitive agreement to acquire equity interest of 60% in Millennium EBS, Inc. The transaction is valued at $12 million. This acquisition positions BlueOne Card to emerge as a prominent payment hub and prepaid debit card provider, significantly expanding its reach and capabilities globally in the fintech sector.
The acquisition includes ownership of the Millennium EBS Payment Hub, an advanced payment orchestration and modernization platform that efficiently manages payments across multiple networks. This strategic move will enhance BlueOne Card's ability to deliver a unified payment hub platform for small and medium-sized financial institutions worldwide.
- Revenue Growth: The combined company anticipates potential revenue growth up to $10 million in revenue over the next year, driven by the new integrated Payment Hub platform.
- Stock Transaction: Millennium EBS shareholders will receive approximately 17% equity ownership stake in BlueOne Card, while BlueOne will own a 60% stake in Millennium EBS.
- Synergies: The acquisition is expected to create substantial synergies by integrating Millennium EBS’s advanced payment orchestration platform with BlueOne Card’s established international platform, accelerating both domestic and global growth.
- Future Outlook: The Company aims to work towards meeting NASDAQ listing requirements by Q4 2026, subject to market conditions and other factors.
Significance of the Acquisition
The Millennium EBS Payment Hub has successfully enabled a major banking institution in Sri Lanka to transition to ISO20022 standards and is now in use, showcasing its role as the ultimate solution for banks seeking scalability, compliance, and secure financial messaging. The platform integrates diverse payment systems into a cohesive framework, offering seamless multi-channel payment processing. This acquisition shifts BlueOne Card's position from a planned leasing agreement to full ownership, enabling us to provide payment services directly to banks and generate significant revenue from financial institutions that utilize our platform.
Strategic Goals
- Empowering Financial Institutions: By acquiring Millennium EBS, BlueOne Card is positioned to support small and medium-sized banks worldwide in modernizing their payment operations. The platform will streamline payment processing across channels such as Swift, RTGS, ACH, FedNow, and Fedwire, offering banks an efficient path to meeting ISO 20022 compliance requirements.
- Expanding Remittance Services: The acquisition enables BlueOne Card to establish a robust remittance platform, allowing users to send money globally without needing a traditional bank account. This new service will generate revenue on each transaction, with convenient options for loading money at locations such as Walmart and 7-Eleven.
- Driving Operational Efficiency: Full ownership of the Millennium EBS Payment Hub allows BlueOne Card to integrate and optimize payment processes, enhancing operational efficiency for banks. By offering this comprehensive solution, the Company aims to meet the evolving demands of the financial sector while capitalizing on new revenue streams.
BlueOne Card's acquisition of Millennium EBS is a significant step forward in our mission to transform payment solutions for financial institutions and individuals around the globe. This strategic move positions us to deliver comprehensive payment services while maximizing growth opportunities in the expanding digital payments market.
"This acquisition represents a pivotal move in our long-term vision of becoming a global leader in financial technology," said Jame Koh, Chairman and CEO of BlueOne Card.
About Millennium EBS
Millennium EBS is a progressive player in the payment hub market, offering Millennium Payment Hub, a comprehensive platform designed to modernize payment processes across multiple channels including Swift, RTGS, ACH, FedNow, and Fedwire. The payment hub platform streamlines financial operations for institutions by integrating various payment systems into a unified solution, leveraging extensive payment technology and software expertise. With support for real-time transaction processing and built-in compliance management (KYC & AML), Millennium Payment Hub enhances operational efficiency and reduces regulatory risks. Millennium EBS is currently targeting small to medium-sized financial institutions seeking to meet ISO 20022 migration deadlines for Fedwire and Swift.
For more information,
visit: www.millenniumebs.com
About BlueOne Card
Founded in 2007 and incorporated in Nevada, BlueOne Card® is a leading provider of innovative payout solutions and prepaid card services, dedicated to transforming the way consumers and corporations manage their money. Our advanced prepaid debit cards facilitate seamless Card-to-Card cross-border real-time global money transfers, making financial transactions simpler and more efficient than ever. With unique security features such as lock and unlock access and dynamic CVV technology, our BlueOne Prepaid Debit Card ensures that users can enjoy peace of mind in every transaction. Backed by FDIC insurance and zero liability, our cards offer a safer, more reliable alternative to cash. At BlueOne Card, we are committed to empowering the unbanked workforce and addressing their payment and money transfer needs.
For more information,
visit: www.blueonecard.com or contact info@blueonecard.com
1-800-210-9755
