27 August 2015
ComOps Limited (ASX: COM) (ComOps), the leading workforce management solutions company, is pleased to announce the acquisition of certain assets from Rostima Ltd (Rostima), a private company incorporated in the United Kingdom. The acquisition continues ComOps’ strategy to be the global leader in workforce management (WFM) for ports and a significant global player in aviation services.
The assets acquired are the intellectual property of Rostima, its book debts, the benefit of its customer contracts and its work in progress, its goodwill and its tangible assets. It is anticipated that substantially all of Rostima’s employees will transfer to ComOps. The purchase price paid for the assets is GBP60,000 (approximately $130,000) in cash and 10 million shares issued on completion, plus an earn-out of a further 10 million shares subject to performance hurdles. Shares issued to Rostima on completion will be subject to escrow arrangements for 15 months.