Xref Limited (ASX:XF1) entered into an Share Purchase Agreement to acquire Voice Project Pty Ltd for AUD 4 million on November 23, 2022. Xref will pay AUD 2 million cash from its existing cash reserves at completion plus up to AUD 2 million in script on the 1st and 2nd anniversaries following completion, conditional on performance. The initial purchase consideration will be paid under the terms of the Share Purchase Agreement when the conditions precedent have been fulfilled or waived. The acquisition will add approximately AUD4 million to Xref’s revenues and increase staff from 85 to 100. Voice Project is profitable and is forecast to be EPS accretive to Xref. Dr Peter Langford, will join Xref along with his team of 14 and will continue to develop the Voice Project platform and business as General Manager, Xref Engage. Completion is expected to take place in the current quarter. The transaction is expected to complete by January 2023.

Xref Limited (ASX:XF1) completed the acquisition of Voice Project Pty Ltd on January 3, 2023.