RIWI Corp. (TSXV:RIWI) entered into a definitive agreement to acquire Research on Mobile for €0.51 million on June 29, 2022. Under the terms of the arms-length Transaction, €0.12 million of the consideration will be held back for any post-closing adjustments. In addition, ROM may be entitled to receive additional earn-out payments subject to the satisfaction of certain revenue and profitability targets as well as employee retention targets for the 2022, 2023 and 2024 RIWI fiscal years. No debt has been issued nor will any finders fees be paid as part of this transaction. Research on Mobile reported revenues of €1.1 million and Net profit of €0.08 million for the period ended December 31, 2021. The Transaction is expected to close within the next 2 to 10 days.

RIWI Corp. (TSXV:RIWI) completed the acquisition of Research on Mobile on July 1, 2022.