Diginex updates acquisition progress with mixed results

Diginex Limited (NASDAQ: DGNX) provided updates on three acquisition targets, with progress on one deal while two others face significant delays or appear unlikely to proceed.

The London-based ESG and compliance technology company reported that negotiations with Resulticks Global Companies Pte Limited continue, with final terms agreed and transaction documents being updated by legal counsel. The completion of cash consideration elements depends on securing a debt-based acquisition financing facility without additional equity dilution. Diginex said it expects to provide an update on the definitive transaction documentation and debt facility within 30 days.

The company acknowledged that while it remains hopeful about concluding the Resulticks transaction, there is no assurance the parties will execute the definitive agreement or complete the deal.

Diginex paused due diligence and drafting of agreements with IDRRA Cyber Security Ltd., operating as Findings, citing a lack of substantive due diligence progress and material advancement on transaction documentation. The company said acquisition of Findings appears unlikely in the short term.

Regarding Kindred OS, Diginex reported it has not received substantive due diligence materials. The company determined that pursuing definitive transaction documentation is not warranted and believes closing the Kindred deal is unlikely.

Diginex operates as a sustainable RegTech business providing ESG, climate, and supply chain data collection and reporting solutions for businesses and governments. The company uses blockchain, artificial intelligence, machine learning and data analysis technologies for corporate regulatory reporting and sustainable finance applications.

You May Also Be Interested In