The assets being acquired include select employees, contractors and a customer contract. The annual revenue from these assets is estimated to be $4.9 million.
Soho is primarily in the business of providing IT services to BFSI customers.
The total purchase consideration payable for the acquisition is $5.94 M. This includes:
Upfront payment - $3.19 M
Earnout - Maximum cumulative earnout of $2.48 M over three years. which is contingent on achievement of certain performance thresholds.
Retention Payment -$0.27 M for retention of a few key employees
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