Park Place Technologies, LLC entered into a non-binding letter of intent to acquire TPM business of Procurri Corporation Limited (SGX:BVQ) for approximately $120 million on November 5, 2019. As per the agreement, the consideration will be paid in cash on a debt free and cash free basis. Park Place Technologies, LLC will acquire all the assets of the group comprising the TPM business. Procurri Corporation Limited has also entered into an exclusivity agreement in relation to TPM business commencing on the date of the letter of intent and expiring on December 31, 2019. The transaction is subject to certain condition, due diligence, definitive agreement, approval of board and shareholders of Procurri Corporation Limited and regulatory approval. Jones Day acted as legal advisor to Park Place Technologies, LLC. Park Place Technologies, LLC cancelled the acquisition of TPM business of Procurri Corporation Limited (SGX:BVQ) on January 15, 2020.