Majesco, Inc. signed a definitive agreement to acquire Agile Technologies, Inc for $8.8 million on December 9, 2014. Majesco, Inc will pay $1 million was paid in connection with the execution of the acquisition agreement, and $2 million was paid in connection with the closing of the acquisition with available cash on hand, approximately $0.39 millon will be paid in cash as deferred payments over three years to certain former Agile employees who became employees of Majesco in connection with this acquisition and up to $5.11 million will be paid by way of earn-out over three years based on the satisfaction of certain time milestones and performance targets, with maximum potential aggregate earn-out payments of up to $5.81 million if performance targets are exceeded. The transaction was funded through internal accruals and $3 million bank funding from Punjab National Bank. Agile Technologies reported revenues of $9 million. The deal is expected to close in January 2015.

Majesco, Inc. completed the acquisition of Agile Technologies, Inc. on January 1, 2015. As announced on June 22, 2018, Majesco, Inc. paid $1.1 million, $1.1 million and $1.5 million as earn-out to Agile in fiscal 2018, 2017 and 2016, respectively, and $0 for fiscal 2015.