Nstein Technologies Inc. has acquired Eurocortex, a provider of content management solutions for the publishing, media, and entertainment industries. Eurocortex's platform for asset and web content management is designed to enable publishers to better manage their digital assets and streamline their web publishing processes. Nstein's text mining software and Eurocortex's CMS platform constitute a fully integrated solution for the publishing and media industries called Ntelligent Content Management (NCM) Suite.
As part of its integration scheme, Nstein will welcome Jean-Michel Texier, founder of Eurocortex, to its team as VP of product evolution. Under the terms of this transaction, Nstein has acquired all of the outstanding common shares of Eurocortex in exchange for $0.5 million in cash and 1,013,152 newly issued shares at a price of $0.85 per unit, for a total value of approximately $1.2 million. A portion of the shares issued is subject to a 24-month voluntary escrow agreement.