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Tribe Property Technologies Completes Acquisition of Toronto-Based DMSI Holdings and Private Placement Led by PROPELR Growth Fund
Tribe Property Technologies Completes Acquisition of Toronto-Based DMSI Holdings and Private Plac...
About this update from Tribe Property Technologies Inc
[{"type":"text","content":"\n \n \n \n Tribe Property Technologies Completes Acquisition of Toronto-Based DMSI Holdings and Private Placement Led by PROPELR Growth Fund\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Tribe completes the previously announced acquisition (the \"\n \n Acquisition\n \n \") of\n \n Toronto\n \n -based DMSI Holdings Ltd (\"\n \n DMSI\n \n \"), including its three subsidiaries. With this Acquisition, Tribe is expected to be on a proforma revenue run-rate of over\n \n $31 million\n \n with improved profitability.\n \n \n To fund the Acquisition, Tribe completed the previously announced non-brokered private placement to raise aggregate gross proceeds of up to\n \n $3,665,439.40\n \n which was led by Round 13 Growth II, L.P., d.b.a. PROPELR Growth (\"\n \n PROPELR\n \n \"), a highly respected, late-stage growth equity investment fund, and also included the participation of the operators of DMSI.\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n June 5, 2024\n \n \n /CNW/ - Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB US: TRPTF) (\"\n \n Tribe\n \n \" or the \"\n \n Company\n \n \"), a leading provider of technology-elevated property management solutions, is pleased to announce the completion of the acquisition (the \"\n \n Acquisition\n \n \") of DMSI, including three operating subsidiaries of DMSI; DMS Property Management Ltd. (\"\n \n DMS Property\n \n \"), Del Management Solutions Inc. (\"\n \n Del Management\n \n \"), and Delcom Management Services Inc. (\"\n \n Delcom\n \n \"), through its wholly-owned subsidiary Tribe Management Inc. (\"\n \n Tribe Management\n \n \").\n \n \n \n \n \n \n \n \n \n \n Joseph Nakhla\n \n , CEO of Tribe, commented on the acquisition, \"We are excited to complete the acquisition of DMSI and welcome their talented team to Tribe. The synergies between our existing capabilities and DMSI's profitable, robust recurring business and established expertise offers a unique opportunity to transform the property management industry. This collaboration is particularly exciting as each of the DM...