There was no news about Quarterhill Inc (OTCMKTS:QTRHF) on Tuesday but the stock was in action nonetheless and ended up with gains of as much as 6.5%. Although there was no news it might still be a good move for investors to perhaps take a look at an important development from earlier on this month on August 16.
The company announced on that day that it had signed a definitive agreement by way of which it was going to acquire Electronic Transaction Consultants LLC from Align Capital Partners LLC. As per the agreement, Quarterhill is going to pick up a 100% stake in Electronic Transaction Consultants and it is going to be completed through C$150 million in cash consideration.
In addition to that, Quarterhill is also going to have to take care of other expenses that are related to the transaction. It was also announced at the time that the deal was going to be finance through some of the cash that the company has on hand and also through debt financing. It should be noted by investors that the transaction is only going to be closed once all the necessary conditions are met. Investors could do well to keep an eye on the developments in the coming days.