Algomizer, Ltd. (TASE:ALMO) signed an agreement to acquire software development business from Appforma Ltd. for ILS 4.5 million in stock on June 6, 2016. In exchange for the assets, Algomizer will allot to Appforma 1.1 million shares through a private placement. In addition, Appforma is entitled to receive from Algomizer receipts for the incomes resulting from the sold assets for a period of four years from signing. Algomizer, Ltd. (TASE:ALMO) completed the acquisition of software development business from Appforma Ltd in 2016.