Field Solutions Holdings Limited (ASX:FSG) entered into a binding agreement to acquire IP Transit Pty Ltd for AUD 0.9 million on October 1, 2019. The deal value is to be paid in cash or ordinary shares, plus performance-based consideration based on new revenue delivered for the year ending 30 June 2020. Management anticipates the aggregate consideration payable will be in the range AUD 0.68 million to AUD 0.9 million, subject to performance-based consideration based on new revenue delivered for the year. In a related transaction, Field Solutions Holdings agreed to acquire assets Ordnance Networks Pty Ltd. Directors of IP Transit, David Hooton and Lee Campbell-Smith of IP Transit have been appointed to senior management roles within Field Solutions Holdings. The deal is subject to Field Solutions's shareholder approval. The meeting of the shareholders of Field Solutions Holdings will be held on November 29, 2019 to approve the transaction. The shareholders of Field Solutions Holdings approved the transaction on November 29, 2019. The transaction is expected to complete by November 30 2019. The acquisition of the IP Transit and other businesses are immediately financially accretive and will contribute new revenue to the group of at least AUD 1.2 million and be significantly earnings accretive in financial year 2020. Field Solutions Holdings Limited (ASX:FSG) completed the acquisition of IP Transit Pty Ltd in the year ending June 30, 2020. At closing, initial adjusted consideration has been paid by the issue of 8.96 million shares to be escrowed for 12 months.