Aztek Technologies 1984 Ltd signed a share purchase agreement to acquire NGSoft from BATM Advanced Communications Ltd. (LSE:BVC) for ILS 105.1 million on March 1, 2021. Under the terms of the transaction, consideration includes a ILS 15.5 million loan repayment from NGSoft and a ILS 2.1 million dividend payment, which will be received prior to completion, and the remaining ILS 76.1 million will be received on completion. Certain employees of NGSoft will receive the balance of ILS 11.4 million through cash out of their employee options and rights on completion. Transaction is subject to the receipt of approval from the Israel Competition Authority. BATM intends to use proceeds of the sale to strengthen its innovation and commercialization engine organically and through acquisition to enable to accelerate its core activities - in particular, in network function virtualisation ("NFV") and molecular diagnostics. In 2020, NGSoft generated a profit before tax of ILS 7.71552 million ($2.4 million) and as at 31 December 2020 it had gross assets of ILS 72.333 million($22.5 million). Transaction is expected to occur by the end of March 2021. Mark Percy, Anita Ghanekar, James Thomas and Henry Willcocks of Shore Capital and Corporate Limited acted as financial advisor to BATM. Aztek Technologies 1984 Ltd completed the acquisition of NGSoft from BATM Advanced Communications Ltd. (LSE:BVC) on March 19, 2021. The transaction has received approval from the Israel Competition Authority and has become unconditional in all respects.