Imdex Limited (ASX:IMD) agreed to acquire Flexidrill Limited and Flexidrill Construction Limited for NZD 30 million on December 2, 2019. NZD 3 million shall be paid in cash, NZD 5 million comprising 50% cash and 50% Imdex shares shall be payable following the successful commercialization of MAGHAMMER technology and NZD 22 million shall be satisfied by an amount set off equal to the increase in the value of the Imdex shares already issued to the vendors in the four-year period from the date of their issue plus any dividends paid on these shares during this period and payment of 10% of generated revenues earned by Imdex from all Flexidrill commercial products. NZD 3 million payable in cash shall be funded from existing cash flow. As of December 12, 2019, Global mining-tech company IMDEX has exercised its option to acquire New Zealand-based Flexidrill, after gaining the option early last year, for a further payment of NZD 3 million cash. IMDEX had already paid NZD 10 million in both cash and IMDEX shares, and will pay a further NZD 27 million in share and royalty-related payments, based on milestones achieved and revenue generated from the acquired business. The transaction is expected to be completed in January 2020.