Imdex Limited (ASX:IMD) agreed to acquire AusSpec International Limited for AUD 8.4 million on July 7, 2020. Under the terms of consideration, AusSpec shares will be satisfied by three cash payments of AUD 1 million (commencing on completion and payable annually thereafter), together with AUD 5.5 million in Imdex shares with AUD 5 million Imdex shares being issued on completion and the balance in July 2022. Cash consideration will be funded from Imdex’s existing cash flows. AusSpec reported unaudited revenue of AUD 1.5 million for the financial year ending March 31, 2020. Sasha Pontual, AusSpec's co-founder and other personnel of AusSpec will join the team of Imdex. Completion is subject to satisfaction of certain conditions precedent and is expected to be effective in late July 2020. The acquisition is immediately cash flow positive, will provide an additional recurring revenue stream for Imdex and is expected to be earnings accretive from years 2-3. Imdex Limited (ASX:IMD) completed the acquisition of AusSpec International Limited on July 22, 2020. Upon closing, AUD 1 million was paid in cash and 4.44 million shares of Imdex were issued. AusSpec’s cofounders, Sasha Pontual and Paul Gamson, and their team have joined Imdex as a result of the transaction.