NerdWallet Inc. completed its previously announced acquisition of On the Barrelhead Inc.

It is anticipated that On the Barrelhead will fully integrate into NerdWallet's existing teams, brand, products and technology, according to a news release.

Pursuant to the terms of the deal, On the Barrelhead was acquired for $120 million, consisting of approximately $70 million in cash and $50 million in NerdWallet class A common stock, subject to customary purchase price adjustments. The cash portion of the acquisition was financed with borrowings from NerdWallet's existing credit facility.

As part of a compensatory bonus retention pool established in connection with the acquisition, members of On the Barrelhead management will be paid an aggregate of $15 million in cash compensation over three years, subject to their continued employment with NerdWallet, and granted $15 million in equity compensation.