Lumine Group Inc. entered into a binding agreement to acquire Titanium Software Holdings Inc on February 17, 2023. Closing is subject to satisfaction of customary conditions to closing as set forth in the acquisition agreement and expected to occur in the first quarter of 2023.

Lumine Group Inc. completed the acquisition of Titanium Software Holdings Inc for $55.8 million on March 8, 2023. Titanium Software Holdings Inc paid cash consideration of $31.4 million on closing plus cash holdbacks of $14.4 million and contingent consideration with an estimated acquisition date fair value of $4.1 million for total consideration of $49.9 million. For this arrangement, which includes a maximum, or capped, contingent consideration amount, the contingent consideration is not expected to exceed $10.0 million. The cash holdbacks are payable over a two-year period.