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Kin and Carta acquires US-based Cascade Data Labs for up to $29.7m
StockMarketWire.com
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Digital transformation company Kin and Carta said it had acquired US-based Cascade Data Labs, a data transformation consultancy, for up to $29.7 million.
'The acquisition of Cascade Data Labs will supercharge our existing data transformation capabilities, while expanding our US presence further westward,' the company said.
'Cascade's founders, Josh Levin and Greg Holiat, will take on leadership roles alongside Cameron in Kin and Carta's data transformation practice,' it added.
Under the terms of the deal, the company agreed to pay an initial sum of US$6.9 million for the acquisiton, with a further US$2.2 million payable in June 2021 contingent upon performance.
There was a further payout provision on adjusted EBITDA performance over the two years ending 30 September 2022, to be settled over a four year period in cash or up to 75% in Kin and Carta shares, taking the total sum up to $29.7 million.
Story provided by StockMarketWire.com
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