OtherLevels Holdings Limited (ASX:OLV) entered into binding agreement to acquire XCOM Media Pty Ltd for AUD 1.4 million on October 22, 2018. OtherLevels Holdings Limited shall pay AUD 0.89 million in cash and AUD 0.16 million through issuance of shares of OtherLevels Holdings Limited. Conditional payment of AUD 0.4 million is subject to achieving minimum EBITDA of AUD 0.3 million. Additional earnout payments may be paid based on extra services revenue and OtherLevels Holdings Limited license royalties as per agreed by the parties. All equity consideration escrowed for 24 months from completion. Transaction will be funded through the funds generated from the public offer by OtherLevels Holdings Limited. Completion is expected to take place on November 1, 2018. The transaction is earnings accretive with AUD 0.3 million in EBITDA and synergies of AUD 0.13 million in one year. Transaction is also cash accretive. Isaac West of Jones day acted as a legal advisor for XCOM Media Pty Ltd. OtherLevels Holdings Limited (ASX:OLV) completed acquisition of XCOM Media Pty Ltd on November 1, 2018. On June 29, 2020, OtherLevels announced that escrow arrangement in relation to 5.2 million shares were issued to XCOM Media. The remainder of the escrow period, being 24 months ending November 1, 2020, has been waived.