Globalive Technology to take control of Flexiti Financial

Globalive Technology Inc (TSX-V: LIVE) said it will exercise a call option to acquire control of Flexiti Financial Inc, a Toronto-based point-of-sale consumer financing company, from Globalive Capital (GC). Terms weren't disclosed. Exercising the call option, obtained last year, will give Globalive Technology 41 percent ownership and 51 percent voting control over Flexiti's parent. As part of the deal, Globalive Technology intends to raise about $10 million in financing, of which GC, the investment firm of Anthony Lacavera, expects to commit $4 million. Globalive Technology, which is controlled by GC, aims to leverage artificial intelligence and machine learning technologies to optimize Flexiti's solution.

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