Nstein Technologies Inc. has acquired KMtechnologies, a Canadian software developer of Web-based collaboration solutions as well as document, knowledge, and customer-relations management solutions. This acquisition is intended to provide Nstein with a complement to its Global Intelligent Information Management (GIIM) platform for large corporations and organizations.
The acquisition of KMtechnologies is expected to have an immediate positive impact on Nstein's financial results and growth. In addition, Desjardins Venture Capital and Innovatech Montréal, both KMtechnologies shareholders, have undertaken to retain Nstein for the next two years as a preferred supplier of any collaboration and knowledge management solutions they might require.
Pursuant to the KMtechnologies acquisition agreement, Nstein will issue 5,950,000 common shares at a price of $0.30 per share, the majority of which will be voluntary escrowed, as well as warrants to acquire an additional one million common shares at $0.40 per share for a 12-month period following the date of the transaction, and at $0.50 per share for an additional 12 months. The acquisition of KMtechnologies is subject to the signature of the final agreements and other conditions, as well as regulatory approvals.