Sumo Logic, Inc. acquired FactorChain Inc. for $2.4 million.
Sumo Logic, Inc. completed the acquisition of FactorChain Inc. on for $2.4 million January 23, 2018. Under the terms of the agreement, Sumo Logic paid an aggregate of $1.5 million in cash and issued 356,549 shares of the Sumo Logic common stock valued at $0.9 million. Therefore, the total consideration paid by the Company was $2.4 million. Of the total purchase price, $0.2 million in cash and 35,653 shares valued at $0.1 million were held by the Company and paid one year subsequent to the closing of the acquisition. These amounts were held back for customary indemnification matters in accordance with the acquisition agreement. The cash and shares were released in November 2018.