Grab, a Southeast Asian tech company, has agreed to buy Stash Financial, a U.S. digital financial services company.
Grab, which operates similarly to Uber, will initially buy a 50.1% stake in Stash that values the seller at $425 million. It will buy the remaining stake over a three-year period determined by Stash’s market value over time.
The initial payment will involve cash and stock, which could be the case for future installments.
The first deal is expected to close in the third quarter.