Savvy Trades and Investments

[2morrowsGains]

WSTG...Wayside is paying $5M plus a potential post-closing earn-out payment of $1.1M for Interwork according to info in the 8K. (Not too shabby seeing how Interwork could add approx $60M to Wayside's yearly gross billings this year, and maybe approx $15M - $20M in revenue?)...

Entry into a Material Definitive Agreement.

On April 20, 2020, CLIMB Channel Solutions (Canada) Inc. (“Buyer”), a newly-formed indirect subsidiary of Wayside Technology Group, Inc. (the “Company”), entered into a Stock Purchase Agreement (the “SPA”) with Interwork Group, Inc. (“Seller”), Interwork Technologies Inc., a Delaware corporation (“Interwork US”), Interwork Technologies Inc., a corporation incorporated under the laws of the Province of Ontario, Canada (“Interwork Canada”), and Firepower Equity Inc.

Pursuant to the SPA, Buyer will acquire Interwork US and Interwork Canada for an aggregate purchase price of $5 million payable at closing (subject to adjustment) plus a potential post-closing $1.1 million earn-out (the “Interwork Acquisition”).

The SPA contains customary representations, warranties and covenants. The SPA also contains indemnification obligations of both Buyer and Seller, subject to certain limitations, and covenants regarding the conduct of each party prior to closing. The consummation of the Interwork Acquisition is subject to customary closing conditions. Either party may terminate the SPA if the Interwork Acquisition does not close by May 20, 2020.
https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14086198&RcvdDate=4/22/2020&CoName=WAYSIDE%20TECHNOLOGY%20GROUP%2C%20INC.&FormType=8-K&View=html