Dalet S.A. (ENXTPA:DLT), Dalet Digital Media Systems USA, Inc. and Dalet Ooyala UK Ltd. signed a final agreement to acquire the Ooyala Flex Media Platform business from Ooyala, Inc., Ooyala Ltd., Ooyala Singapore Private Ltd., Nativ Holdings Ltd., Nativ Systems Ltd., Ooyala Australia Pty Ltd. and Nativ Limited for $5.4 million on July 15, 2019. Under the terms, the intellectual property rights portfolio necessary for the smooth operation of the business, including in particular the Ooyala Flex Media Platform software and the portfolio of Ooyala trademarks, sold to Dalet UK, the US customer contracts relating to the Business sold to Dalet US, the customer contracts for the rest of the world relating to the business sold to Dalet S.A. along with the majority of Ooyala personnel across sales, marketing, software development, professional services, and customer support will be acquired. By mutual agreement between all the parties: 1) the UK Sale has been valued at $0.6 million, the US Sale has been valued at $1.7 million and the French Contribution has been valued at $2.6 million. The UK Sale will be paid for fully in cash by Dalet UK, the US Sale will be paid for (i) in cash as to $1.3 million and (ii) Dalet S.A.’s shares held by Dalet US equaling 30,000 shares; and The French Contribution will be paid for by new shares of Dalet S.A. In practice, the sellers have agreed to grant a seller's loan to Dalet S.A. In addition, the parties have agreed to pay to Ooyala US by February 20, 2020 an additional sum of up to $0.5 million, subject to the commercial performance in the year 2019 of certain contracts contributed and sold as part of the transaction. The draft contribution agreement provides that the number of new ordinary shares issued by the Company in payment for the French Contribution will be 0.19 million. The transaction was approved by Dalet shareholders on November 4, 2019. Browne Jacobson (London) and King and Spalding LLP (Paris) provided legal representation to Dalet for the Transaction. Latham & Watkins acted as legal advisors for Ooyala. RSM acted as accounting and tax advisors to Dalet. SOJE Capital LLC sourced and advised Dalet on the transaction.