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Vasco Data Security International Inc Announces Acquisition Of Cronto (United Kingdom)

Monday, 20 May 2013 10:45am EDT 

Vasco Data Security International Inc announced its acquisition of Cronto, of Cambridge (UK), a provider of secure visual transaction authentication solutions for online banking . VASCO acquired all of the stock of Cronto in exchange for an initial cash consideration of EUR15 million and contingent cash consideration in the form of an earn-out of up to a maximum of EUR2 million (combined, approximately $21.9 million using the exchange rate of 1.29). The acquisition is expected to be dilutive in 2013, due in large part to the amortization of purchased intangible assets. The acquisition is expected to be accretive in 2014. 

Company Quote

1.64 +6.00%
24 Dec 2014