Acumentis Group Limited (ASX:ACU) agreed to acquire remaining 57.8% stake in Acumentis (WA) Holdings Pty Ltd for AUD 3.9 million on May 20, 2021. Under terms of agreement 55% of consideration will be paid in cash and remaining 45% will be paid in stock. The deferred consideration will be settled 55% in cash and 45% in newly issued Acumentis shares. As of June 30, 2021, Acumentis (WA) had revenues of AUD 6.9 million and net profit after tax of AUD 0.85 million. All executive shareholders of ACU WA will remain as employees of the business during the period to June 30, 2025. The deal is subject to obtaining financing for acquisition, approval by regulatory board and execution of employment contracts. The deal is expected to close on July 1, 2021. Acumentis Group Limited (ASX:ACU) completed the acquisition of remaining 57.8% stake in Acumentis (WA) Holdings Pty Ltd on July 1, 2021. The initial consideration of AUD 3.1 million was settled 55% in cash which is AUD 2 million of which AUD 1.8 million has been paid and AUD 0.2 million is payable in 3 equal instalments on January 23 2022, July 23, 2022 and Jan 23, 2023 and 45% in approximately 13.8 million newly issued Acumentis. The shares issued for the initial consideration are subject to voluntary escrow provisions whereby 100% of the shares are escrowed for 12 months (to July 23, 2022) and 50% for 24 months (to July 23, 2023). The deferred consideration will be calculated using a business valuation based on the average PBT for the financial years ended June 30, 2023, 2024 and 2025 multiplied by 57.8% less the initial consideration of AUD 3.1 million (excluding the amount for net cash balances and subject to a maximum total acquisition price of AUD 3.9 million). The deferred consideration will be settled 55% in cash and 45% in newly issued Acumentis shares. Shares issued for the deferred consideration will be subject to voluntary escrow provisions whereby 100% of the shares are escrowed for 12 months and 50% for 24 months post issue date. Net cash balances were AUD 0.9 million as at June 30, 2021.