PubLife, LLC signed a memorandum of understanding to acquire Viumbe, LLC from Mindad Media Ltd. and Together Startup Network Ltd for $7 million on November 1, 2016. The consideration will be paid as $4.5 million on completion and remaining $2.5 million will be paid as subordinated capital secured by liens on all second class rights of ownership and assets of Viumbe and its entire assets. The subordinated capital shall not bear interest, and will be subject to adjustments depending on the amount of visitors in the websites of Viumbe. Mindad Media Ltd. will sell 51% stake and Together Startup Network Ltd will sell 49% stake. The deal is expected to close on December 31, 2016. As of December 27, 2016, Together Startup Network Ltd. announced that the definitive agreement for the transaction is expected to be signed in January 2017 and hence, the deal will not be completed on December 31, 2016, as reported.