NexTech AR Solutions has signed a binding LOI to acquire remote video training, live streaming software company Jolokia.
NexTech AR Solutions (CSE:NTAR,OTCQB:NEXCF) has signed a binding LOI to acquire remote video training, live streaming software company Jolokia.
As quoted in the press release:
The Jolokia platform generated $1mill USD in SaaS revenue for 2019.
The transaction will be an all stock purchase with an initial payment upon closing of 1 million shares in restricted stock priced at $1 USD ($1.38 CAD) with a 12 month earn out if certain revenue milestones are hit of an additional $4mill in restricted stock. The company is currently conducting its due diligence with an expectation of a closing in the next few.