10:01 AM EST - CloudMD Software & Services Inc. : Announced that it has signed a definitive agreement to acquire IDYA4, a leading health technology company focused on data interoperability and cybersecurity based in the United States. Since announcing the binding agreement in December 2020, IDYA4 has closed various new contracts and waiting task orders to be finalized for approximately $1.5Million (USD). In consideration for the purchase of 100% of the issued and outstanding IDYA4 Securities, CloudMD has agreed to pay aggregate consideration of US$14.8 million payable as follows: (i) US$ 3.7 million in cash, subject to a working capital adjustment; (ii) US$ 6.66 million in common shares of the Company; and (iii) a performance based earnout. CloudMD Software & Services Inc.
shares V.DOC are trading down 7 cents at $2.78.
