Displaying items by tag: Membership Interest Purchase Agreement (MIPA)

COMPANY NEWS:

Key highlights: 

• Atturra Limited (Atturra), through its subsidiary Atturra North America Inc, has simultaneously entered into and completed a Membership Interest Purchase Agreement (MIPA) to acquire the membership interests of Project Delivery Services LLC (Kitepipe) (Acquisition), an award-winning Boomi partner with full platform suite expertise.
• The acquisition will cement Atturra’s position as a market leader for Boomi services with a strong team based in North America and a global offshore support team in the Philippines. In addition, Kitepipe will add significant value to Atturra’s global operations, reinforcing its commitment to delivering innovative, data-driven transformations.
• The upfront consideration is US$3.15m (AUD$4.98m in cash, with earn-out/post-completion consideration of up to US$3.18m (AUD$5.02m) in cash subject to Kitepipe achieving performance hurdles for calendar years 2025 and 2026. The purchase price, including upfront and deferred consideration, is based on a multiple of 7.5x forecast EBITDA. Integration costs have been budgeted at US$350,000.