KLDiscovery Inc. (OTCPK:KLDI) signed a definitive agreement to acquire Cenza Technologies Private Limited on September 22, 2023. The acquisition is expected to close in October 2023, subject to the satisfaction of customary closing conditions. Kenyon Group, LLC and Panya Capital Advisors Pvt Ltd acted as financial advisor to Cenza Technologies Private Limited.

KLDiscovery Inc. (OTCPK:KLDI) completed the acquisition of Cenza Technologies Private Limited for $4.3 million on November 20, 2023. The consideration for this acquisition comprised an initial cash payment of $3 million, and deferred contingent consideration of $1.3 million. The contingent consideration, a two-year liability, is contingent upon Cenza meeting specific revenue targets at the end of each year. The earnout, if achieved in a given year, will be paid in the amount of $0.65 million, distributed at the end of the corresponding year in which the target is achieved. If the initial target is not achieved at the end of the first year, but the full target is achieved at the end of the second year, the full $1.3 million million will be distributed at such time.