Business
Shelfie Signs Definitive Agreement to Acquire Majority Interest in Israeli Based Aspect Information Systems Ltd.
Shelfie Signs Definitive Agreement to Acquire Majority Interest in Israeli Based Aspect Information Systems
About this update from Shelfie-tech Ltd.
TORONTO, ON / ACCESS Newswire / May 4, 2026 / Shelfie-Tech Ltd. (CSE:SHLF)(OTCQB:SHLFF) ("Shelfie" or the "Company") is pleased to announce that, it has entered into a definitive share purchase agreement (the "Agreement") with Aspect Information Systems Ltd. ("ASPECT"), an Israeli-based company specializing in data analytics and the sole shareholder of ASPECT (the "ASPECT Shareholder") pursuant to which Shelfie will acquire a majority interest in ASPECT (the "Transaction"). The execution of the Agreement reflects the next step in advancing Shelfie's strategic growth agenda.ASPECT operates in the Business Intelligence and data analytics space, providing data-driven solutions for the retail sector based on its propriety AI machine learning technology. Aspect has developed capabilities in gathering and analyzing retail data and generating actionable insights . ASPECT shares Shelfie's product philosophy and commitment to innovation in the rapidly growing "shelf inventory management technological solutions for the retail industry" category.The Transaction significantly advances Shelfie's stated strategy. ASPECT will enhance Shelfie's existing intellectual property portfolio which should result in by providing retail users with access to a wider array of synergistic product lines.Share Purchase AgreementPursuant to the Agreement, Shelfie will initially acquire up to a 70% equity stake in ASPECT as follows (all amounts herein are in U.S.$):On closing, a cash payment of $1,327,140 to the ASPECT Shareholder in consideration for 50% of the issued and outstanding securities of ASPECT (the "Securities"); andOn closing, an investment into ASPECT, in the amount of $500,000, in return for that amount of Securities as will increase Shelfie's ownership by an additional 10% of the Securities (to an aggregate of 60%); andPrior to June 30, 2026, an investment into ASPECT, in the amount of $500,000, in return for that amount of Securities as will increase Shelfie's ownership by an additional 10% of the Securities (to an aggregate of 70%)Additionally, the Agreement provides Shelfie with an option to acquire (the "Call Option") an additional 15% of the Securities held by the ASPECT Shareholder in consideration of $1,000,000. The Call Option expires on December 31, 2030 (the "Expiry Date").Furthermore, the Agreement provides the ASPECT shareholder with the option to sell (the "P...