IVE Group Limited (ASX:IGL) signed a binding agreement to acquire AFI Branding solutions Pty Ltd. on October 18, 2021. In a related transaction, IVE Group Limited signed a binding agreement to acquire Active Display Group Pty Ltd on October 18, 2021. The total consideration for both the transactions is AUD 6.5 million of which AUD 5.2 million is payable on completion and AUD 1.3 million payable as deferred consideration based on the achievement of agreed revenue targets over a 24 month period.

The transaction will be funded through IVE Group Limited's existing cash reserves. The integration of AFI Branding solutions will commence in November, 2021, and will complete by June 30, 2022. AFI Branding solutions Managing Director, Glenn Watson, will remain as senior leadership role post-acquisition.

The transaction is subject to satisfaction of customary closing conditions and is expected to complete on October 31, 2021.