The Board of iCollege Limited (ASX: ICT) has entered into a binding agreement to acquire 80% of the Hacking School (India). Through this acquisition, the company would be able to further expand across India, its key market.
The acquisition will be funded through cash as well as shares. The cash amount will be paid in instalment and will be funded through the cashflow of the business.
The Hacking School is a well-regarded IT Training facilitator which provides rigorous training in specialist areas such as Blockchain, Web technologies, Cyber Security and App Development via Boot Camps.
At AEST 1:30 PM, ICT shares quoted $0.046, 2.22% above its previous close.
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