Tomizone Limited (ASX:TOM) agreed to acquire Sweep Internet NZ limited for AUD 0.3 million on May 11, 2018. As per the terms, there is a 2-year earnout provision and purchase price for the acquisition consists of AUD 0.35 million plus GST at settlement, to be satisfied by the issue of up to 23.3 million shares at settlement. In addition, certain earn-out payments, to be paid in the form of the Tomizone's shares. As part of the transaction, Tomizone will enter into a similar partnership agreement which will license Tomizone to provide ongoing support and sales of Avaya products into the NZ market. Tomizone will not raise any funds from the issue of the shares. Andy Woods will join Tomizone as Chief Technology Officer and Chris Lang has been appointed Divisional Manager of the ICT/VoIP division, with specific responsibility for growing that division of the Tomizone business. The transaction is subject to approval of shareholders of Tomizone, bondholder and ASX. As of May 11, 2018, the due diligence has been completed. As of July 20, 2018, shareholders of Tomizone approved the transaction. As of February 27, 2019, the transaction is expected to be completed by March 31, 2019. Tomizone Limited (ASX:TOM) cancelled the acquisition of Sweep Internet NZ limited on June 3, 2019. The transaction was cancelled as one of the vendors decided to not proceed with the transaction.