Officine 8K S.r.l. executed a binding terms sheet to acquire Servtech Global Holdings Limited (ASX:SVT) in a reverse merger transaction on January 21, 2019. In terms of the consideration the ServTech will issue 292 million ordinary shares at AUD 0.02 per share to Officine shareholders and a cash consideration of AUD 0.069 million. Based on the performance, Servtech will issue up to 150 million shares in three equal tranches of 50 million shares subject to the achievement of milestones. The 3 milestones for which deferred consideration is payable are upon ServTech achieving: adjusted EBITDA of AUD 0.5 million on or before 24 months from settlement of the acquisition, audited revenue of AUD 1.5 million on or before 24 months from settlement of the acquisition, A Share price of minimum AUD 0.03 within 36 months from settlement of the acquisition, on a 7-day VWAP basis. Officine will be renamed as Vection. On completion of the transaction, Officine’s management team will join the Company’s existing management team and will provide for further software technology knowledge and experience to ServTech and its subsidiaries. To fund the continued operations of Officine and Servtech ongoing commercial activities, Servtech will issue a further 111 million Shares at AUD 0.018 to sophisticated and professional investors to raise an additional AUD 2 million before costs. The transaction is subject to regulatory approval, due diligence, ServTech's shareholder approval, appointment to the board of directors of Servtech of Gianmarco Biagi and Lorenzo Biagi. A general meeting will be held in February 11, 2019. As of March 12, 2019, shareholders meeting of Servtech will be held on April 11, 2019. Board of Directors of Servtech recommended shareholders to vote in favor of transaction. As of April 11, 2019, shareholders of SVT approved to issue consideration shares to Officine 8K S.r.l. The transaction is expected to close on March 29, 2019. Nexia Perth Corporate Finance Pty Ltd acted as independent expert in the transaction for Servtech Global Holdings Limited. Officine 8K S.r.l. completed the acquisition of Servtech Global Holdings Limited (ASX:SVT) in a reverse merger transaction on April 12, 2019. Following completion of the transaction, Gianmarco Biagi was appointed as Managing Director and Lorenzo Biagi was appointed as Executive Director and chief sales officer of ServTech Global Holdings.