Infrastructure Developments Corp. (OTCPK:IDVC) signed a memorandum of understanding to acquire Bidlive Management FZE from its founders on June 14, 2016. As per the terms, the purchase consideration includes an issuance of a nominal amount of Infrastructure Developments treasury stock to Bidlive founders and a future performance based stock earn-out. Infrastructure Developments Corp. completed the acquisition of Bidlive Management FZE from its founders on August 23, 2016.