Datasection Inc. (TSE:3905) signed a basic agreement to acquire Jach Technology SpA on August 9, 2019. An agreement will be signed between late August 2019 and September 2019. On November 14, 2019, Datasection Inc. signed a stock transfer agreement to acquire Jach Technology SpA for CLP 7.19 million. Under the terms, Datasection Inc. will acquire approximately 580 million shares of Jach Technology SpA. For the year ended December 2018, Jach Technology SpA reported net assets of approximately CLP 810 million, total assets of CLP 2.2 billion, net sales of CLP 1.7 billion, operating income of approximately CLP 310 million and net income of approximately CLP 320 million. As per the disclosure of September 27, 2019, stock transfer agreement will be concluded is now planned in October to November 2019. Post completion, Jach Technology SpA will operate as a wholly owned subsidiary of Datasection Inc. The deal is expected to close in October 2019. As per the disclosure of September 27, 2019, stock transfer execution date has been extended and deal is expected to close in November to December 2019. As on November 14, 2019, the transaction is expected to close on December 13, 2019 Datasection financed the acquisition through execution of new stock issuance through third party allotment, including investment in kind of Jach's common stock. Number of new shares that have been issued are 1.593 million at an issue price of CLP 3909.1 per share. The amount of funds raised through the share issue totals to CLP 6.228 billion.