Manalto Limited (ASX:MTL) signed a binding terms sheet to acquire assets of Bambu Digital Pty Ltd for AUD 5 million on April 20, 2017. The consideration comprises issuance of 100 million shares along with 150 million performance shares based on achievement of certain milestones. A total of 50 million shares will be paid upon any one of the Bambu performance management software products becoming cloud compliant or being integrated into an existing Manalto product that is cloud compliant; 50 million shares will be paid upon Manalto Limited achieving annualised revenues of AUD 1.5 million, based on four times quarterly revenue as reported in the Manalto Limited's Appendix 4C Quarterly Report and 50 million shares will be paid upon Manalto Limited achieving annualised revenues of AUD 3.5 million, based on four times quarterly revenue as reported in the Manalto’s Appendix 4C Quarterly Report. Manalto Limited also announced a private placement of AUD 2.5 million to fund administrative costs of the transaction. On completion of the transaction, Jim McKerlie will continue as Executive Chairman of the combined entity. The deal is subject to entry into a formal agreement, completion of private placement transaction, completion of due diligence, approval from shareholders of Manalto Limited, third-party consents and regulatory approvals including approvals under the ASX listing rules and the Corporations Act.