IndigoVision Group plc (AIM:IND) acquired Agorasys, S.A. from Pedro Soares and Bernardo Motta for €3 million on November 11, 2019. Out of the €3 million consideration, €2.3 million is payable in cash at completion to clear Agorasys's existing financial indebtedness. Out of the remaining deal value of €0.7 million, shareholders in Agorasys will receive approximately €0.212 million in cash and the issue of 0.0172 million shares of IndigoVision to each of Pedro Soares and Bernardo Motta. The balance of the consideration relates to the assumption of Agorasys’s potential liabilities of €0.163 million by IndigoVision. Finally, deferred consideration of up to €0.25 million will be payable to Pedro Soares and Bernardo Motta, conditional upon the achievement by Agorasys of certain revenue targets for the year ending December 31, 2019. The deferred consideration is expected to be satisfied by the issue of shares of IndigoVision following the publication of the 2019 audited financial statements of Agorasys.  The precise number of shares to be issued will be determined by the share price as of the date Agorasys’s 2019 accounts are approved, and such shares will serve to fulfil any indemnification claims or breaches of warranty prior to November 8, 2021. Agorasys's revenues were €1.3 million and the operating profit for the year was €0.1 million for the year ended December 31, 2018. Agorasys had net assets of €0.1 million at December 31, 2018. Agorasys will continue to be run by the existing management team and Mr Soares and Mr Motta have entered into new contracts of employment with Agorasysin line with normal commercial terms in Portugal. It is expected that Agorasys will only become a material contributor to the Group's financial performance following completion of this transitional period and investment phase. Lauren Kettle of Nplus1 Singer Advisory LLP acted as financial advisor to IndigoVision. IndigoVision Group plc (AIM:IND) completed the acquisition of Agorasys, S.A. from Pedro Soares and Bernardo Motta on November 11, 2019.