Smart Employee Benefits Inc. entered into a memorandum of agreement to acquire SOMOS Consulting Group Ltd. from Alan Boyce and other shareholders for CAD 1.6 million.
After the closing of the transaction, SOMOS will be operated as the Ottawa base for the Smart Employee Group of Companies, while maintaining its current brand and software, service, and solution offerings. Post acquisition, the existing Chief Executive Officer and President and major shareholder of SOMOS, Alan Boyce, along with Adam Jasek, Chief Operating Officer, shall remain in the executive management team of SOMOS. The deal is subject to regulatory approval.
Smart Employee Benefits Inc. (TSXV:SEB) entered into a share purchase agreement to acquire SOMOS Consulting Group Ltd. from Alan Boyce and other shareholders on March 1, 2013.