QANTM Intellectual Property Limited agreed to acquire Atlas Bottling Company from WNT Ventures Fund II managed by WNTVentures and K1W1 for AUD 11 million.

QANTM Intellectual Property Limited (ASX:QIP) agreed to acquire Sortify.tm Limited from WNT Ventures Fund II managed by WNTVentures and K1W1 for AUD 11 million on September 1, 2021. Under the terms, AUD 7 million will be paid in cash and AUD 1 million will be paid in QANTM shares. In addition, deferred consideration of AUD 2 million will be paid in cash and AUD 1 million in stock, in two annual instalments subject to performance requirements.

Post completion, the team of Sortify.tm Limited will join QANTM Intellectual Property Limited. The transaction is expected to complete on 30 September 2021. The transaction of Sortify.tm is likely to be earnings accretive within 12 months and will bring value to QANTM's program of IT modernisation as well as expansion in the Asia-Pacific region, allowing the QANTM group to capture new and emerging market opportunities.