BREAKING: Square acquires major stakes in Tidal

Square Inc said it has reached an agreement to acquire major stakes in Tidal.

Details of the deal are below:

Square Expects To Pay A Mix Of Cash And Stock Of $297 Million For A Significant Majority Ownership Stake.

In Connection With Deal, Square Plans To Name Shawn “Jay-z” Carter To Board Of Directors

Existing Artist Shareholders Will Be Remaining Stakeholders

Tidal Will Operate Independently Within Square, Alongside Seller And Cash App Ecosystems.

Square Inc – Does Not Expect Tidal’s Financial Results To Have A Material Impact On Square’s Consolidated Revenue Or Gross Profit In 2021