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IBEX Technologies Inc Acquires Bio-Research Products, Inc.
IBEX Technologies Inc announced that it has acquired Bio-Research Products Inc. (BRP), an Iowa-based maker of specialized reagents. The shareholders of BRP will receive USD2,000,000 in cash and future earn out to a maximum of USD700,000). IBEX funded the acquisition from its cash reserves, but expects to obtain a mortgage of approximately USD1,000,000 on BRP's land and buildings, for a net IBEX outlay of USD1,000,000 in cash for the acquisition.
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