International Money Express completes acquisition of LAN Holdings

International Money Express has completed its acquisition of LAN Holdings. Through the purchase of LAN Holdings, Corp., Intermex also acquired I-Transfer Global Payments E.P., S.A.U., a Spain-based money transmitter that enables customers to send money transfers from Spain, Italy, and Germany. "We are excited to close on the international entities for the La Nacional acquisition which represent a tremendous opportunity for growth. Intermex will now provide outbound remittances from Spain, Italy, and Germany for the first time, and will expand its services and presence in Canada. The Company’s global footprint now reaches more than 60 countries from our current 28. In these new markets we will continue to pursue our mission of great service to our customers and partners, with continued focus on profitable growth for our shareholders," said Bob Lisy, chairman, chief executive officer, and president of Intermex. Intermex paid cash of $8.6 million on closing, subject to customary purchase price adjustments, for LAN Holdings. LAN Holdings through I-Transfer will operate as an independently licensed entity with the leadership team reporting to Bob Lisy.