Moko Social Media Limited (ASX:MKB) signed a share purchase agreement to acquire 80% stake in Tagroom Pty Ltd. on September 29, 2014. The consideration for the acquisition will be a combination of cash and shares in Moko Social Media Limited, plus an option based incentive package to be issued against agreed performance targets over 2 years. The key Tagroom personnel will also agree a 2-year employment and management agreement with Moko Social Media. Nirojan Yamunarajan, Tagroom's Chief Operating Officer will become a divisional head within Moko Social Media senior management team. The consideration to be paid for the acquisition will not have a material impact on the financial position or issued capital of Moko Social Media Limited.

Moko Social Media Limited (ASX:MKB) completed the acquisition of 80% stake in Tagroom Pty Ltd. for AUD 0.4 million on October 1, 2014. The consideration included AUD 0.2 million in cash and 1.24 million in MOKO ordinary shares.