ICTV Brands Inc. (OTCPK:ICTV) signed an agreement to acquire substantially all the assets of Ermis Labs, Inc from LeoGroup Partners Investment Fund, LLC, Joseph Marrama, Patrick Malone, John Carrino and another seller for $2.15 million on October 4, 2016. ICTV Brands will acquire 1 million shares of Ermis Labs in the deal. The consideration will be paid as issuance of 2.5 million shares of ICTV Brands on closing and cash consideration of $1.8 million. The cash consideration will be paid in the form of continuing monthly royalty of 5% of net cash received from the sales of the over-the-counter medicated skin care products of Ermis Labs provided, ICTV Brands to pay a minimum annual royalty amount of $0.18 million on or before December 31 of each year commencing with calendar year ending December 31, 2017. In a related deal, ICTV Brands Inc. (OTCPK:ICTV) signed an agreement to acquire substantially all the assets of PhotoMedex Inc and its subsidiaries on October 4, 2016. The closing is subject to customary closing conditions, including, without limitation, the completion of accounting and legal due diligence investigations; the receipt of all authorizations, consents and approvals of all governmental authorities or agencies; expiration of waiting periods; the receipt of any required consents of any third parties; delivery of all documents required for the transfer of the acquired assets, including all intellectual property assignments; prior or simultaneous closing of the PhotoMedex acquisition; ICTV Brands having received the consolidated financial statements of Ermis Labs for year-to-date 2016 that have been prepared in accordance with generally accepted accounting principles and no material adverse change in the financial condition, results of operations, business or assets of Ermis Labs. As on October 4, 2016, 54.17% shareholders of ICTV Brands approved the acquisition. The deal is expected to close by February 1, 2017. Louis A. Bevilacqua of Bevilacqua Pllc acted as legal advisor to ICTV.