CIBT, Inc. reached an agreement in the form of a term sheet to acquire Immigration business of Santa Fe Group A/S (CPSE:SFG) for €52 million on December 3, 2018. The consideration will be paid in cash. Post-acquisition, Santa Fe Relocation's employees will gradually transfer to CIBT's wholly owned immigration subsidiary, Newland Chase. The transaction remains subject to final agreement between the parties. Deal is expected to close during Q1 2019.