AlphaPoint Technology, Inc. (OTCPK:APPO) signed a non-binding letter of intent to acquire N'compass Solutions, Inc. on August 14, 2014. NSI, Kristin F. Paul, Christopher J. Flaherty, Keith A. Meierhofer, Christopher J. Pinc, Thomas H. Frahm, Thomas J. Muggli, and Joshua J. Verhelst will sell their stake in the transaction. Under the terms, if after a period of due diligence all terms and conditions are agreed and conditions to closing are met, definitive agreements would be executed and N'compass would become a wholly owned subsidiary of AlphaPoint. The transaction is subject to Christopher Flaherty and Christopher Pinc shall deliver their resignations as directors of AlphaPoint, and Gary W. Macleod shall deliver his resignation as director and employee of N'compass Solutions. On completion, the transaction would be dilutive to existing shareholders.
AlphaPoint Technology entered into an agreement to acquire N'compass Solutions for $3.18 million in stock on December 19, 2014. AlphaPoint Technology will issue 127.8 million shares. N'compass will operate as a wholly owned subsidiary of AlphaPoint and will keep its base of operations in Minneapolis. The N'compass leadership team will remain in their current positions. In addition, N'compass President and Chief Executive Officer, Chris Flaherty and Chief Information Officer, Chris Pinc will join the AlphaPoint Board of Directors and take on the roles of AlphaPoint President and Chief Information Officer respectively. Further, Kristi Paul will join the AlphaPoint leadership team as Chief Marketing Officer and Keith Meierhofer will serve as Vice President of Consulting and Special Projects.