Business
Turnium Announces Execution of Asset Purchase Agreement for the Sale of Its TNET Division
The divestiture allows TTGI to concentrate on executing our global, partner-led growth strategy and the next phase of its evolution following the closing of the Insentra acquisitionVancouver, British Columbia--(Newsfile Corp. - March 2, 2026) - Turnium Technology Group Inc. (TSXV: TTGI) (FSE: E48) ("Turnium" or "the Company"), a global leader in Technology-as-a-Service (TaaS) and partner enablement services, is pleased to announce that the Company and its subsidiary, Tenacious Networks Inc....
About this update from Turnium Technology Group Inc Class A
[{"type":"text","content":"The divestiture allows TTGI to concentrate on executing our global, partner-led growth strategy and the next phase of its evolution following the closing of the Insentra acquisition","length":181,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - March 2, 2026) - Turnium Technology Group Inc. (TSXV: TTGI) (FSE: E48) ("Turnium" or "the Company"), a global leader in Technology-as-a-Service (TaaS) and partner enablement services, is pleased to announce that the Company and its subsidiary, Tenacious Networks Inc. ("TNET"), have entered into a definitive asset purchase agreement (the "APA") dated February 27, 2026 with Tenacious Services Inc. (the "Purchaser") to sell the business carried on by TNET of providing information technologies consulting, support, service delivery, equipment, managed services, Microsoft licensing and hosted voice services in British Columbia and parts of the USA (the "TNET Division") to the Purchaser (the "Transaction").","length":826,"tagName":"p"},{"type":"text","content":"The Company originally purchased the TNET Division from the Purchaser and another entity, Thinsolution Inc., in February 2021. As the Company's business has evolved, it has classified its TNET Division as a discontinued operation under IFRS 5 Non-Current Assets Held for Sale and Discontinued Operations in Note 27 to its audited financial statements for the year ended September 30, 2025, a copy of which is available under the Company's SEDAR+ profile at www.sedarplus.ca.","length":482,"tagName":"p"},{"type":"text","content":"By entering into the APA with the Purchaser, the Company is able to dispose of the TNET Division to continue with its current strategy of focusing on scalable, partner-led Technology-as-a-Service solutions and progressing the recently closed acquisition of Insentra, which is expected to further accelerate Turnium's transition toward a 100% partner-led, wholesale global business model. Providing that the TNET Division, under the ownership of the Purchaser, will be operated by Aaron Patton, the sole shareholder of the Purchaser, who has been operating the TNET Division as its President through a services agreement since the Company originally acquired i...