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BRIEF-Vogogo to sell risk platform; says shutting down payment processing business

Published 2016-07-05, 04:14 p/m
Updated 2016-07-05, 04:20 p/m
© Reuters.  BRIEF-Vogogo to sell risk platform; says shutting down payment processing business

© Reuters. BRIEF-Vogogo to sell risk platform; says shutting down payment processing business

July 5 (Reuters) - Vogogo Inc VGO.V
* Vogogo inc. Announces update on strategic alternatives
process and sale of certain assets
* There will be residual assets that special committee
intends to monetize,notably electronic money institution
authorization granted by fca in uk
* Commenced process of notifying third parties, and also all
of corp's employees, that it will be shutting down its payment
processing business
* Board has concluded by selling vogogo's risk platform and
shutting down its payment processing business
* Chief financial officer, tom wenz, will cease full-time
employment at end of july 2016 and is expected to continue for a
period on a part-time basis

Source text for Eikon: ID:nMKWMhlD6a
Further company coverage: VGO.V

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