Technology company archTIS (ASX:AR9) signed a binding term sheet to purchase the business assets of US-based firm Direktiv, including its technology, customer base, and employees, for $750,000 in total, according to a Thursday filing with the Australian bourse.
The consideration will be settled in three tranches, with the initial $350,000 payment to be made on settlement, followed by $250,000 six months post settlement, and a final $200,000 one year post settlement, the filing said.
The acquisition will be funded through available investment funds and future operating cash flow, with completion contingent on certain conditions, per the filing.
archTIS shares rose past 1% in afternoon trade Thursday.
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