Posera Ltd. (TSX:PAY) announced that the court-approved the Arrangement Agreement (the "Arrangement") for the acquisition of Posera by PayFacto Inc. ("PayFacto") has been completed. Pursuant to the Arrangement, PayFacto has acquired all of Posera's issued and outstanding common shares ("Shares") for CAD 14.5 million on a cash free, debt free basis, in an all cash transaction, of which $1 million will be placed in escrow for a period of 2 years. "On behalf of Posera's Board, I am thrilled to announce the successful conclusion of Posera's strategic review process with the completion of the privatisation of Posera via the Arrangement with PayFacto," said Tom McCole, Chairman of the Board of Directors of Posera. "PayFacto is the perfect home for Posera's product suite, our employees, our partners, and our customers", added Akash Sahai, EVP Strategy and Business Development. "We believe that Posera will be an integral part of PayFacto's future growth story".