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Root9B Holdings Sells IPSA´s Investigative Due Diligence Practice
Wednesday 03 May 2017

3 May 2017 - US-based cybersecurity and regulatory risk mitigation services provider root9B Holdings, Inc. (NASDAQ: RTNB) has sold the Investigative Due Diligence Practice of its wholly-owned subsidiary IPSA International Services, Inc. to Exiger Canada, Inc., the company said.

The company sold the business for total consideration of USD 6m and up to an additional USD 4m by way of a three-year earn-out based on the achievement by IDDP of certain performance targets.

Proceeds will be reduced by a Working Capital Adjustment, currently estimated to be in excess of USD 1.0m.

The IDDP includes the sale of the stock of IPSA's Canadian subsidiary (IPSA International, Inc. Canada) located in Vancouver, BC and IPSA's London, Hong Kong and Miami offices, contracts and employees.

For the past 15 years, IPSA's IDDP has provided services in matters of multi-jurisdictional corruption, bribery and due diligence investigations.

The IDDP also performs due diligence related to travel, employment and settlement including for immigration, citizenship and visas.
Details
Date Published: 03/05/2017
Target: IPSA International Services/Due Diligence Practice
Country: USA
Deal Size: 6m (USD)
Sector: Computer Software
Type: Divestment
Financing: Cash
Status: Closed
Vendor: root9B Holdings
Buyer: Exiger Canada, Inc
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