TV2U International Limited (ASX:TV2) entered into binding heads of agreement to acquire portfolio of intellectual properties from Talico Technologies Pte Ltd on January 29, 2019. On June 12, 2019, TV2U International Limited entered into definitive agreement to acquire portfolio of intellectual properties from Talico Technologies Pte Ltd. Talico Technologies Pte Ltd will only receive consideration from the deal, as and when real value emerges for TV2U International Limited from the commercialization of the intellectual properties. As part of transaction Talico Technologies Pte Limited will receive 2 billion class A performance shares, upon achieving revenue from the business utilizing the intellectual property portfolio of AUD 5000000 in the period from the date of issue of the class A performance shares until June 30, 2021, 1 billion class B performance shares upon achieving revenue from the business utilizing the intellectual property portfolio of AUD 6250000 in the period from the date of issue of the class A performance shares until June 30, 2022, 2 billion class C performance shares upon achieving revenue from the business utilizing the intellectual property portfolio of AUD 7500000 in the period from the date of issue of the class A performance shares until June 30, 2023, 1 billion class D performance shares upon achieving revenue from the business utilizing the intellectual property portfolio of AUD 7500000 in the period from the date of issue of the class D performance shares until June 30, 2023, 2 billion class D performance shares upon achieving revenue from the business utilizing the intellectual property portfolio of AUD 10,000,000 in the period from the date of issue of the class E performance shares until June 30, 2024. As part of the transaction, all IoT-focused projects, agreements, and commercial deployments currently being undertaken by Talico will be immediately transitioned to TV2U International Limited. Talico Technologies Pte Ltd has the potential to receive performance shares, over time, if and when TV2U meets certain net profits targets. The completion of the deal is subject to TV2U International Limited to raising at least AUD 2.5 million in additional funds to ramp up sales and marketing initiatives during 2019. As of June 12, 2019, raising of AUD 2.5 million funds in no longer required. TV2U International Limited (ASX:TV2) completed the acquisition of portfolio of intellectual properties from Talico Technologies Pte Ltd on June 12, 2019.