rhipe Limited (ASX:RHP) entered into binding legal agreement to acquire EMT Distribution Pty Ltd on April 1, 2021. In related transaction, rhipe Limited (ASX:RHP) entered into binding legal agreement to acquire Distribution Pte Limited on April 1, 2021. As per the transaction, the purchase price for the EMT Distribution Pty Ltd and Distribution Pte Limited will be an upfront payment of AUD 11 million payable in cash upon completion of the transaction. In addition to the upfront cash price, key management will be entitled to additional consideration of up to $2m tied to the reported financial performance of the acquired business over the first 24 months. As a part of transaction, Chief Executive Officer Richard Rundle, Mohammad Mobasseri and all key emt management of EMT Distribution Pty Ltd and its team will join rhipe Limited. In the 12 months prior to acquisition, EMT Distribution Pty Ltd and Distribution Pte Limited has combined sales of $19 million and delivered underlying EBITDA of $1.9 million. The transaction is expected to complete in the next two months and have a minimal impact on rhipe’s financial performance to 30 June 2021. The transaction is expected to complete on April 30, 2021. Cristín McCoy of Hamilton Locke acted as legal advisor to rhipe Limited. rhipe Limited (ASX:RHP) completed the acquisition of EMT Distribution Pty Ltd on April 30, 2021.