Street Calls of the Week
VANCOUVER - NameSilo Technologies Corp. (CSE:URL) (OTC:URLOF), whose stock has surged over 320% in the past year according to InvestingPro data, has entered into a definitive share purchase agreement to acquire SewerVUE Technology Corp. for C$2.45 million, the company announced Friday.
SewerVUE, based in Coquitlam, British Columbia, specializes in large-diameter pipe inspection technology, utilizing pipe-penetrating radar and multi-sensor inspections to collect data on pipeline infrastructure. The company provides inspection services to municipalities, mining corporations, and engineering firms globally.
The acquisition will give NameSilo complete ownership of SewerVUE, which uses technologies including LiDAR, sonar, HD-CCTV, and its proprietary pipe penetrating radar to detect voids, measure wall thickness, assess sediment volume, and determine remaining useful life of pipeline assets.
As part of the transaction, NameSilo will issue 78,750 common shares at C$1.40 per share to a third-party finder, subject to a four-month resale restriction period. The company will also grant the finder options to purchase 150,000 shares at C$1.40 per share, exercisable over five years.
The completion of the acquisition remains subject to conditions outlined in the share purchase agreement.
NameSilo Technologies Corp. invests in companies it considers undervalued across various industries, excluding resource sectors. Its subsidiary, NameSilo LLC, operates as a domain name registrar with approximately 5.8 million active domains under management from about 160 countries. InvestingPro analysis indicates the company maintains a GREAT financial health score and has achieved 20% revenue growth in the last twelve months. Based on InvestingPro’s Fair Value model, the stock appears slightly overvalued at its current market capitalization of $53.58 million.
This information is based on a press release statement issued by NameSilo Technologies Corp. Get deeper insights into NameSilo’s financials and access exclusive ProTips with an InvestingPro subscription.
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