Technology One Limited (ASX:TNE) entered into an agreement to acquire Scientia Resource Management Ltd. for ?12.3 million on September 3, 2021. As per the transaction Technology One Limited will pay initial payment of ?6.1 million. Also, under the terms a first earnout payment of ?2.1 million is decided based on net profit before tax and annual recurring revenue as of December 31, 2021 and a second earnout payment of ?4.1 million is decided based on net profit before tax and annual recurring revenue as of December 31, 2022. Total consideration will be in the form of cash payments funded from internal sources. The acquisition is earnings neutral for FY21.