WhiteSmoke Software Ltd (TASE:WSMK) signed Memorandum of Understanding to acquire Wise Media Data Ltd. for $1.2 million on December 4, 2016. The consideration includes $0.2 million as earn out payment which is dependent on the 20% of the net incomes between the years 2020-2022 and is payable 30 days after each financial reports. Also, a payment equal to 50% of the net incomes between the years 2017-2019 which is payable within 30 days from the signing of each annual financial reports. The definitive agreement should be signed within 45 days from the signing of Memorandum of Understanding. Wise Media Data Ltd. reported to have net income of $1.77 million in 2015. Tomer Sade, founder and manager of Wise Media, together with 16 additional workers, will be transferred to the subsidiary of WhiteSmoke, created for the purpose of acquisition, as its employees. Sade will be appointed Chief Executive Officer and Director in the subsidiary. WhiteSmoke Software’s Chief Executive Officer, Itay Meroz, and the Chief Financial Officer, Guy Harel, will be appointed as Directors in WhiteSmoke Software. The transaction is subject to due diligence process completion, signing of definitive agreement, approval from each of the companies' governing organisms and any other corporate approval, approval from the anti trust commissioner, approval from clients of Wise Media Data Ltd. and agreement from part of the employees of the Wise Media Data Ltd. to be absorbed into the WhiteSmoke Software Ltd. The deal is also subject to approval of Wise’s operations financing parties. WhiteSmoke Software signed an agreement to acquire Wise Media Data on February 1, 2017. According to the agreements, the total consideration that WhiteSmoke Software will pay to Wise Media Data is of, a total of $0.75 million in cash, payable with WhiteSmoke Software’s own resources upon completion, an amount equal to 50% of the net incomes calculated from January 1, 2018 until January 31, 2020 and a total of up to $0.45 million, payable until January 31, 2020, and subject to adjustments between the sides. Completion is expected by the end of February 2017. The currency conversion has been done through www.oanda.com as at December 31, 2015. WhiteSmoke Software Ltd (TASE:WSMK) completed the acquisition of Wise Media Data Ltd. on February 12, 2017.