Bird Global unit acquires Skinny Labs for $19M in cash, stock

Bird Global announced the acquisition by its wholly-owned subsidiary Bird Rides of 100% of the stock of Skinny Labs from Tier Mobility, a company incorporated in Germany. The aggregate consideration paid, or that will be paid, by the company and Bird Rides for the transactions contemplated by the purchase agreement, is $19M, which is comprised of $10M in cash, $6M in the form of a secured vendor take-back promissory note, and $3M in hold-back consideration comprised of $1M in cash and $2M of the company’s lass A common stock.