Stanley Davis Group Limited signed a definitive agreement to acquire the Company Formations Business from CloudBuy plc (AIM:CBUY) for £0.28 million on March 28, 2019. The purchase consideration will be made in cash which is subject to adjustment. The transaction represents the sale of the assets and liabilities of the Company Formations business to Stanley Davis. CloudBuy will use the proceeds to fund the working capital purposes. The transaction is expected to be complete on March 29 2019. Paul Shackleton, Daniel Gee-Summons and Simon Johnson acted as the nominated advisor and broker to CloudBuy.