WALLESS Advised Square, Inc. on Successful Closing of Indirect Acquisition of Lithuanian Based E-money Institution Verse Payments Lithuania UAB
We are thrilled to announce that Square, Inc. acquired Verse Group with its subsidiary Verse Payments Lithuania UAB, holding an e-money institution license in Lithuania. WALLESS advised Square, Inc. on the successful closing of the acquisition.
Square, Inc. is listed on the New York Stock Exchange (ticker: SQ) and provides payment and financial services. It is the parent company of the Square Group, consisting of 28 companies operating in North America, Europe, Asia, and Australia. Square, Inc. is one of the major innovative payment, and financial service providers in North America and worldwide, and Verse will join the Cash App organization at Square, enabling the two teams to learn from one another.
The acquisition was a complex transaction requiring the involvement of attorneys from different jurisdictions and comprehensive advice (related to corporate, data protection, finance regulatory and labour relations matters). The lead counsel of the deal Latham and Watkins entrusted WALLESS Managing Partner Dovilė Burgienė, Partner Joana Baublytė-Kulvietė, Associate Partner Alina Makovska, Associate Partner Aušra Brazauskienė, Senior Associate Guoda Šileikytė and Associate Akvilė Marozaitė to assist them on the Lithuanian law issues of this complex deal since its inception and signing through to its closing.
More information can be found here.