WhiteSmoke Software Ltd (TASE:WSMK) signed an agreement to acquire GMS Digital Ltd. for $1.2 million on May 31, 2016. The consideration includes $0.3 million in cash payable upon completion and financed with WhiteSmoke Software's own resources, $0.55 million to be paid in cash, amount that will be equal to 50% of the net incomes until November 30, 2017 and balance, equal to 50% of the net incomes until November 30, 2017, up to $0.35 million, will be paid in cash, subject to the stock exchange’s approval for listing of the shares. Under the agreement, Dimitri Slavin, founder and manager of GMS Digital, and other 6 employees will be working for WhiteSmoke Software. Completion of the transaction is subject to the assignment of GMS Digital's agreements with clients and suppliers, antitrust commissioner’s approval and the employees’ agreement to be transferred to WhiteSmoke Software, with the exception of Dimitri Slavin, who already agreed. Completion of the transaction is expected to occur in no more than 45 days from May 31, 2016. WhiteSmoke Software Ltd (TASE:WSMK) completed the acquisition of GMS Digital Ltd. on July 6, 2016. All the pre-conditions were fulfilled.