Story-I Limited (ASX:SRY) entered into non-binding agreements to acquire Estore and Emax for AUD 3.9 million on November 10, 2016. As on August 15, 2017, Story- I Limited entered into a sale & purchase agreement to acquire Estore for up to the equivalent of AUD 1.9 million depending on the final stock take and will be dispersed in stages according to the milestones namely, upon signing of the agreement; when Apple has approved the transfer of the retail licenses from Estore to Story-I Limited and when the retail store leases are transferred and the stores are handed over; when the Apple education license is transferred, and when the apple service provider license is transferred and the service centers with the equipment, tools and spare parts are handed over. To fund the entire acquisition, Story-I Limited is seeking to raise AUD 7.5 million via the issue of convertible notes. To fund the deal for Estore, Story-I Limited has entered into a placement agreements to raise up to AUD 5 million through issue of new shares. For the year ended December 31, 2015 Estore and Emax reported revenue of AUD 47 million and EBITDA of AUD 2.4 million. The transaction is subject to Story-I Limited completing satisfactory due diligence; approval from Apple for the transfer of the rights as an Apple Premium Reseller, Apple Education Reseller and Apple Service Provider; consent of the Estore and Emax landlords to the assignment or novation of the shop leases to Story-i and approval of shareholders of Story-I Limited is obtained, if required by the ASX. The transaction is expected to be completed by February 1, 2017. The required handover for Estore agreement is expected to be completed in 3 months. The general meeting of the shareholders of Story-I Limited will be held on September 26, 2017. The transaction is value accretive to Story-I Limited. On October 24, 2017, Story-i Ltd. completed the first stage of the acquisition of EStore. The first stage involves the transfer of the retail licence as an Apple Premium/Authorised Reseller and includes 7 Apple Premium and Authorized Reseller stores located in Jakarta, Bandung and Yogyakarta. It is expected that the entire process of acquiring EStore will be completed by early December 2017. Story-I Limited (ASX:SRY) cancelled the acquisition of Estore and Emax on August 28, 2018.