Beamtree Holdings Limited (ASX:BMT) entered into a binding agreement to acquire Potential X Ltd from Health Roundtable Limited, Duance Attree and others for AUD 18.7 million on August 30, 2021. consideration to Potential(x) shareholders comprising up to 30 million shares in Beamtree and AUD 4 million cash consideration. The share consideration to be issued on completion of the acquisition comprises 12.7 million ordinary shares and 6 million performance shares. The performance shares will convert (1:1) into ordinary shares on satisfaction of a vesting condition based on the achievement of revenue targets for FY22. The issue of the remaining 11.3 million shares will be deferred for 24 months as security against any warranty and indemnity claims. This implies an enterprise value for Potential(x) of $19.6m on a debt free, cash free basis. The acquisition is fully funded. Potential(x)’s Managing Director and majority shareholder, Duane Attree, will join Beamtree’s executive team and become a substantial shareholder. Potential(x) shareholders will own 9.6% of Beamtree. Management and the Board of Beamtree will own 34% of the company. The transaction is also subject to certain customary conditions precedent for a transaction of this nature, including no material adverse change in respect of Potential(x). Completion is expected to occur by the end of September 2021. Beamtree Holdings Limited (ASX:BMT) completed the acquisition of Potential X Ltd from Health Roundtable Limited, Duance Attree and others on September 30, 2021.