Over the Wire Holdings Limited (ASX:OTW) entered into a binding agreement to acquire Digital Sense Hosting Pty Ltd from Agim Isai and John Jeffrey Pannel for AUD 39 million on October 2, 2020. In private placement transaction, Over the Wire Holdings Limited will raise AUD 20 million by issue share at AUD 4 per share. The consideration of AUD 27 million comprise of AUD 21.6 million in cash plus AUD 5.4 million in Over the Wire shares and deferred cash consideration of up to AUD 12 million subject to achieving agreed targets which include a mix of retention and growth targets based around revenue and EBITDA. The cash component is fully funded by an institutional placement of AUD 20 million and existing cash. The deferred portion of consideration will be funded by proceeds raised from share purchase plan with proceeds of AUD 5 million. Digital Sense Hosting Pty Ltd reported revenue of AUD 18.3 million and EBITDA of AUD 5.4 million. The transaction is subject to shareholder approval in a meeting scheduled to be held on November 5, 2020 and a limited number of customary conditions precedent. The transaction was unanimously approved by the Board of Directors. The transaction is expected to be completed by October 30, 2020.