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