HITIQ Limited entered into a Share Purchase Agreement to acquire CSX Limited for AUD 1.1 million.

HITIQ Limited (ASX:HIQ) entered into a Share Purchase Agreement to acquire CSX Limited for AUD 1.1 million on November 22, 2021. Under the terms, HITIQ Limited will pay AUD 0.86 million in cash and additional earnout payment of AUD 0.3 million in cash within 18 months of acquisition based on agreed KPI's. CSX Limited reported annual revenue of AUD 0.4 million. CSX Limited founder Ed Lodge and two key developers will join HITIQ Limited.

The acquisition of CSX Limited will be accretive to revenue growth of HITIQ Limited.