Future Mobility Solutions Limited (NZSE:FMS) entered into a conditional agreement to acquire Willard Marine Inc. for $6.85 million on September 27, 2017. Future Mobility Solutions signed a definitive agreement on February 13, 2018. Future Mobility Solutions will pay $1.65 million in cash as an upfront payment whereas $2.6 million on the first anniversary and $2.6 million on the second anniversary of Completion. The cash consideration due will be met from the Company’s internal resources and borrowings. During the year ended December 31, 2016, Willard achieved revenues of approximately $13.1 million. Ulrich Gottschling, Willard’s Chief Executive Officer, will be appointed to the Board of Future Mobility Solutions upon the completion of the acquisition. The Acquisition is subject to a number of conditions, including inter alia, approval of FMS shareholders at a special general meeting and execution of the definitive acquisition agreement. The acquisition of Willard will be completed prior to the end of the 2018 reporting year.