Hiremii Limited (ASX:HMI) entered into a share purchase agreement to acquire Inverse Group Pty Ltd for AUD 1.4 million on November 5, 2021. Under the terms, Hiremii will pay AUD 0.8 million on completion, AUD 0.2 million will be paid in or before March 2022 subject to Inverse Group achieving a twelve-month trailing reviewed or audited revenue of AUD 12 million or more as at December 31, 2021, AUD 0.25 million will be paid in or before June 2022 subject to Inverse Group achieving a twelve-month trailing reviewed or audited revenue of AUD 14 million or more as at March 31, 2022; and AUD 0.25 million to be paid in or before October 2023 subject to the Inverse achieving a twelve-month trailing audited revenue of AUD 16 million or more as at June 30, 2023. The milestone payments will be subject to adjustments in respect to Inverse Group's debt position as at completion and the Completion Payment will be funded via the Hiremii's existing cash reserves. Both Andrew Hornby and Chris Flint, of Inverse Group, will continue to be engaged in Inverse Group. Completion of the Acquisition is subject to the satisfaction of certain conditions precedent, including the satisfaction of due diligence investigations. It is expected that completion of the Acquisition will occur on or around November 15, 2021.

Hiremii Limited (ASX:HMI) completed the acquisition of Inverse Group Pty Ltd on November 24, 2021.