Martello Completes Acquisition of Savision B.V.

About this update from Martello Technologies Group, Inc.

[{"type":"text","content":"\n\n\n\nMartello Completes Acquisition of Savision B.V.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, Nov. 2, 2018\n\n\n\nTransaction extends network and IT performance management capabilities and expands sales presence in key European markets.\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n OTTAWA, Nov. 2, 2018 /CNW/ -  Martello Technologies Group Inc. (\"Martello\" or \"the Company\") (TSXV: MTLO), a leading provider of network performance management solutions for real-time communications, announced today that it has received final approval from the TSX Venture Exchange (\"TSXV\") for its share purchase agreement to acquire Savision B.V. (\"Savision\"), previously announced on October 15, 2018. By acquiring Savision, Martello extends its already strong customer base and network performance management capabilities, while expanding its sales presence in Europe. Savision was founded in 2006 and provides enterprise software for the visualization of IT systems management data such as performance metrics, outage information and incidents. Deployed in over 50 countries around the world for more than 900 customers, Savision's software is an ITOps solution that integrates and controls monitoring, cloud, and service management tools data in a single pane of glass. \n\n \n \n\n \nUnder the terms of the share purchase agreement, Martello has purchased, through its wholly owned subsidiary, Martello Technologies Corporation, all issued and outstanding shares of Savision for an aggregate purchase price of $11,860,083, payable as follows: (i) a cash payment of $3,628,083 and (ii) the issuance of 18,709,090 shares in the Company's share capital to the shareholders of Savision at a price of $.44 per share. A finder's fee of $358,625 is payable to Sampford Advisors, who acted as exclusive M&A adviser to Martello on this transaction. In c...

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