eCargo Holdings Limited (ASX:ECG) entered into a purchase agreement to acquire 45% stake in Jessica’s Suitcase Pty Ltd from Jessica Rudd, founder of Jessica’s Suitcase Pty Ltd, on January 22, 2018. eCargo Holdings Limited will issue 80.25 million CHESS Depository Interests. Sellers agreed to a voluntary escrow of 75% of their CHESS Depository Interests in eCargo Holdings Limited for 12 months from the issue date and 50% of their CHESS Depository Interests in eCargo Holdings Limited for a further 6 months. Under the deed, the vendors will retain full management operation and control subject to minority holder protections in favor of eCargo Holdings Limited. eCargo Holdings Limited will also have a call option to acquire the remaining shares in Jessica’s Suitcase within 18 months following the date of the initial acquisition. For the year ended December 31, 2017, Jessica’s Suitcase Pty Ltd reported revenue of AUD 0.24 million. Jessica Rudd will be appointed as a non-executive Director of eCargo effective on completion of the acquisition of the initial 45% of Jessica's Suitcase. It is anticipated that the acquisition of the initial 45% of Jessica's Suitcase will complete within the week. Eugene Fung and Thomas Gardner of Thomson Geer acted as legal advisors to Jessica Rudd. HWL Ebsworth Lawyers Pty Ltd. acted as legal advisor to eCargo Holdings Limited.