(RTTNews) - Neptune Wellness Solutions Inc. (NEPT) Monday announced a non-binding Letter of Intent to acquire Datasys Group, Inc., and affiliated companies for a potential consideration of $112 million.
Neptune and Datasys are still in negotiations and have not executed a definitive agreement. As per the LoI, Nepture plans to pay in a combination of $20 million in cash at closing, $32 million in restricted equity based on a pre-closing VWAP of the Company's share price on NASDAQ, a 5-year $31 million PIK seller note and an earnout payment ranging from $5 million to $22 million.
Datasys is a data marketing company that utilizes artificial intelligence and machine learning and leverages its expansive data to help companies more accurately target their ideal customers.
Nepture envisages operating Datasys' business as a data, analytics, digital media solutions provider and artificial intelligence technology company, upon a successful deal.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
