Business
Impact Development Group Enters into Term Sheet to Acquire Fusion
Impact's acquisition will expand its reach with an established footprint in the United States. T...
About this update from Impact Development Group Inc
[{"type":"text","content":"Impact Development Group Enters into Term Sheet to Acquire FusionImpact's acquisition will expand its reach with an established footprint in the United States.Toronto, Ontario--(Newsfile Corp. - August 19, 2024) - Impact Development Group Inc. (TSXV: IMPT) (\"Impact Development Group\", \"IDG\" or the \"Company\"), a leading Panamanian developer of affordable housing solutions, is pleased to announce that it has entered into a non-binding term sheet to acquire 100% of the issued and outstanding shares of Fusion Inc. (\"Fusion\"), a software company located in Ohio, the United States (the \"Transaction\"). ACQUISITION OF FUSION INC.IDG is pleased to announce the acquisition of Fusion, the creators of an innovative software platform designed to streamline the administration of Low-Income Housing Tax Credits (\"LIHTC\") for asset managers, developers and syndicators. This strategic acquisition marks a significant step in IDG's expansion into adjacent markets and revenue streams while leveraging over a decade of experience and in building affordable homes in Central America. Through the integration of Fusion's platform, IDG is better positioned to broaden its mission in promoting the development of affordable housing across a wider geographic area.Fusion is a specialized software platform designed for the efficient management of LIHTC portfolios. Developed by asset managers for asset managers, Fusion simplifies the complex processes involved in LIHTC administration, from property construction to stabilization. The platform offers comprehensive tools for finance and compliance, data management, reporting, tax credit management, and property oversight, all within a single, user-friendly interface. Fusion enhances visibility, maximizes returns, and enables rapid scaling, making it an indispensable asset for organizations managing affordable housing investments.By acquiring Fusion, IDG significantly enhances its ability to manage other mission-critical aspects of affordable housing development and positions IDG for continued expansion into other parts of the value chain. By integrating Fusion's robust platform, IDG can begin to offer a more comprehensive suite of services, enabling greater visibility over the development process and ensuring more efficient, scalable, and sustainable housing solutions. \"Acquiring Fusion is a strategic m...