Just Water International Limited (NZSE:JWI) agreed to acquire 51% stake in HomeTech Ltd from Paul Allen Nielsen and Janet Mary Nielsen on December 22, 2017. HomeTech Ltd reported revenues of NZD 18 million and profit before tax of NZD 2 million for the year ended December 31, 2016. Just Water International Limited (NZSE:JWI) completed the acquisition of 51% stake in HomeTech Ltd on January 1, 2018. The transaction consideration was NZD 4.6 million. Pursuant to the transaction, Paul Allen Nielsen and Janet Mary Nielsen continue to hold 49% stake in HomeTech and HomeTech operates as a subsidiary of Just Water International. Tony Falkenstein was appointed as director and Paul Nielsen remained a director of HomeTech.