Formula Vision Technologies (F.V.T) Ltd. (TASE:FVT) made an offer to acquire remaining 65.28% stake in imperson Ltd. for $1.3 million on January 21, 2019. Pursuant to the terms of offer, Formula Vision will offer 14.9 million shares as a consideration. Post-completion, imperson will operate as a wholly owned subsidiary of Formula Vision. As of February 28, 2019, the transaction is approved by the Board of Formula Vision Technologies. The offer is valid for 30 days from the date of its submission unless it is extended by Formula Vision.
Formula Vision Technologies (F.V.T) Ltd. (TASE:FVT) completed the acquisition of 59% stake in imperson Ltd. on March 25, 2019. Formula Vision Technologies issued 15.4% stake of Formula Vision Technologies's issued and paid up share capital in the transaction.