FINEOS Corporation Holdings plc (ASX:FCL) entered into a binding agreement to acquire DigIn Technologies LLC for $10.6 million on May 4, 2021. FINEOS will pay an upfront cash payment of $4 million and an earnout of up to $6.6 million over three years subject to specific revenue hurdles being met. The acquisition will be funded by existing cash reserves and the issuance of 700,000 share options to DigIn's three founders, Karan Mishra, Matt O'Mara and Santoash Rajaram and team of 23 employees. As FINEOS and DigIn integrate the business over the coming months, the priority will be to continue to operate on a business as usual basis in order to meet client needs. DigIn achieved revenues of $6 million in the year to December 31, 2020. The transaction is subject to customary closing conditions and is expected to complete quickly. Acquisition is anticipated to be earnings accretive to FINEOS excluding transaction costs, after its first full year.