Cirralto Limited (ASX:CRO) entered into a binding share sale agreement to acquire Appstablishment Software Group Pty Ltd from Rare Air Nominees Pty Ltd and others for AUD 6.6 million on December 6, 2019. Cirralto Limited will issue 825 million shares as consideration for the acquisition. The transaction will bring ownership of Spenda and SYNK’D platforms to Cirralto. Upon completion of the acquisition, Appstablishment Software Group Pty Ltd’s founders, Adrian Floate and Francis DeSouza will hold approximately 38% of Cirralto Limited’s voting rights. Rare Air Nominees Pty Ltd, which is associated with Cirralto Limited’s existing Directo, Adrian Floate whose associated entities presently holds 8.5% of Cirralto Limited, holding will increase to above 20%. The due diligence work related to the transaction was funded through a private placement of 82 million new shares at an issue price of AUD 0.007 per share to raise AUD 0.574 million. The acquisition is subject to shareholder approval, obtaining all necessary regulatory approvals or waivers pursuant to the ASX Listing Rules and Corporations Act, and other material conditions. Cirralto Limited’s shareholder’s meeting is scheduled on February 26, 2019. The transaction has been approved by the shareholders of Cirralto Limited in a general meeting held on May 20, 2021. The transaction is expected to close by February 28, 2020. As of April 19, 2021, the transaction is expected to close on May 27, 2021. Cirralto Limited (ASX:CRO) completed the acquisition of Appstablishment Software Group Pty Ltd from Rare Air Nominees Pty Ltd on June 4, 2021.