Quisitive Announces Completion of the Sale of BankCard USA - Seite 2

“As we close this chapter, the strategic divestiture of our payments segment marks a pivotal moment for Quisitive”, said Mike Reinhart, CEO of Quisitive. “This is not merely a sale, it's a calculated move towards concentrating our prowess where we truly excel – as a spearhead in cloud solutions, in synergy with our powerful Microsoft partnership. This transition embodies our commitment to innovation and customer excellence, as we leverage emerging AI capabilities and cloud technology to deliver unparalleled service. It's a transformative step for Quisitive, as we streamline our focus and harness financial strength for sustained growth and value creation.”

Advisors

William Blair & Company, L.L.C. acted as financial advisor and Bass, Berry & Sims PLC and Cassels Brock & Blackwell LLP acted as legal counsel to the Company in connection with the Transaction. Stikeman Elliott LLP and Shearman & Sterling LLP acted as legal counsel to the Acquiror. McDermott Will & Emery LLP acted as legal counsel to the Lenders.

Corporate Updates

The Company today announces that it has issued an aggregate of 1,162,823 deferred share units (“DSUs”) to independent directors that vest after one year, an aggregate of 4,790,770 restricted share units (“RSUs”) to officers of the Company which will fully vest three years from the date of issuance, and an aggregate of 267,265 RSUs to officers of the Company which will fully vest one year from the date of issuance. Once vested, each RSU represents the right to receive one Quisitive Share or the equivalent cash value thereof, at the Company's direction, while each DSU entitles the holder to receive one Quisitive Share, or in certain circumstances a cash payment equal to the value of the Quisitive Shares, at the time the holder ceases to be a director of the Company.

About Quisitive:
Quisitive (TSXV: QUIS, OTCQX: QUISF) is a premier, global Microsoft partner leveraging the power of the Microsoft cloud platform and artificial intelligence, alongside custom and proprietary technologies, to drive transformative outcomes for its customers. Our Cloud Solutions business focuses on helping enterprises across industries leverage the Microsoft platform to adopt, innovate, and thrive in the era of AI. For more information, visit www.Quisitive.com and follow @BeQuisitive.