Hilan Ltd. (TASE:HLAN) entered into an agreement to acquire 70% stake in Payday LLC for $26.4 million on December 16, 2019. Under the terms, Hilan Ltd. shall pay Payday LLC's shareholders the sum of $20 million and an extra sum of up to $6.4 million to be paid the following 4 years since completion of the deal if certain milestones are achieved. In addition to the consideration, Hilan Ltd. shall also provide Payday a loan in the sum of $10 million. As per the transaction, the activity of 2 companies: Payday Payroll Inc. and Adminasource Inc., will be merged into Payday on completion of the deal. Hilan Ltd. shall establish a fully held subsidiary in USA by which, after completion of the deal, it will control 70% of Payday and the remaining 30% of Payday will be held by Payroll Inc. and Adminasource Inc and a shareholder of one of the Payday Payroll Inc. or Adminasource Inc.