LookSmart, Ltd. (NasdaqCM:LOOK) entered into an agreement to acquire the key assets of Syncapse Corp. on August 15, 2013. The court has appointed MNP Ltd. as receiver for Syncapse Corp. The proposed transaction is subject to court approval, which is expected in the beginning of September 2013.

LookSmart, Ltd. (NasdaqCM:LOOK) completed the acquisition of the key assets of Syncapse Corp. for $3 million on September 3, 2013. Ontario Superior Court of Justice granted the approval to complete the acquisition.