Two Way Limited, the interactive and gambling application company based in Australia, Sydney, has issued a statement concerning the proposed merger between the firm and Priority One Network Ltd. the debit card company.
Two Way produces and develops gambling apps for cell phones, TV, IPTV (Internet Protocol TV) platforms. The company has stated through the statement that the company has entered an agreement and signed a deal with Priority One that would witness its merger with the debit card company. It also stated that the company considers Priority One as a company that has a lot of potential.
This proposed merger between the two companies is going to merge the simplicity and the ease of a debit card with the up to date global payment system. This merger would lead to ultimate convenience for the customers and merchants as well.
Despite this statement, Two Way that just witnessed the resignation of its chief exec., Grant Foster and stated that it has issued a number of notices to Priority Once concerning a number of breaches of the warranties and the representations.
These breaches of material happened during the implementation of the merger deal. Two Way did not mention those breaches. It also stated that if Priority One doesn’t fix it and they continue with the material breach for five working days, this will lead to the termination of the merger.