Audinate Group Limited (ASX:AD8) signed an agreement to acquire Video business of Silex Insight SA for $8 million on December 13, 2021. The consideration consists of an up-front cash payment of $6.5 million and revenue earn-out of up to $1.5 million may be payable based on the uplift in revenue for the twelve-month period from acquisition date. Audinate will enter into a Transition Services Agreement with Silex for a period of up to six months from completion. For the year 2020, Video business of Silex Insight reported revenue of $2.5 million. An existing team of 8 engineers will join Audinate. Jean-Marie Cloquet, currently the Chief Technology Officer of Silex Insight, will join Audinate. The transaction is subject to achievement of conditions precedent standard for this type of transaction, including relevant Belgian regulatory confirmations and assignment of contracts. The transaction is expected to complete on January 31, 2022

Audinate Group Limited (ASX:AD8) completed the acquisition of Video business of Silex Insight SA on February 1, 2022.