SciDev Limited (ASX:SDV) has entered a business sale agreement to acquire the Business of Haldon Industries for AUD 12.7 million on March 29, 2021. Under the terms of consideration, SciDev will pay upfront cash on completion of AUD1.7 million and, additionally, issue 5.4 million SciDev shares to the Haldon at issue price of AUD 0.80 per share. Share will be issued on completion with 24 month escrow. According to the performance of Haldon business in FY2021, FY2022 and FY2022 cash payment of AUD 2.4 million, AUD 2.41 million and AUD 2.41 million will be done respectively. As of December 31, 2020 Haldon reported AUD 8.13 million of revenue and generated an EBITDA of more than AUD 3 million. Sean Halpin and Jake Reardon, Founders of Haldon Industries have agreed to join SciDev and will become Directors of the operating subsidiary of SciDev that is acquiring the Haldon business. Remaining Haldon employees to join operational roles in the water segment. The completion of transaction is subject to regulatory approval: EPA licences for the mobile treatment of PFAS in NSW to pass to SciDev, customer contracts: assignment or transfer of the benefit of key customer contracts, key employees: completion is conditional on key Haldon staff entering into employment contracts with SciDev on agreed terms, assignment to SciDev of operating assets and premises leases and no materially adverse change in the business prior to completion. The transaction is expected to complete in Q4 of 2021. SciDev Limited (ASX:SDV) completed the acquisition of Business of Haldon Industries on May 13, 2021.