Update on Aquisitions
After entering the Due Diligence and SPA negation process, it became apparent that recent financial performance of the acquisition target has not been at the expected level. As such, Ayima has decided to pull out of the current negotiations and not pursue completion by the target date of 2018-10-31. Ayima will continue to monitor the target's performance and may decide to re-commence negotiations in the future.
Ayima remains committed to further M&A activity as a way of accelerating growth and product development and the team is considering several other potential acquisition targets at the current time.
The Board will inform the market should any of those opportunities progress to contract stage.