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Multi-million dollar acquisition

Isle of Man-based e-wallet company Neovia Financial has acquired Canadian rival online payments provider Optimal Payments for up to US$50 million (£31.25 million) in cash, shares, and vendor debt financing.

As a result it has appointed Optimal Payments' founder Joel Leonoff to its board as an executive director.

He will become joint chief executive officer of the company alongside Mark Mayhew, Neovia's current president and chief executive.

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