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Technology

BRIEF-EngageBdr Ltd Says Entered Binding Term Sheet To Buy Adcel Inc For $4.5 Million

May 3 (Reuters) - Engage:BDR Ltd:

* ENTERED BINDING TERM SHEET TO BUY ADCEL INC. FOR $4.5 MILLION

* CONSIDERATION PAYABLE IN FULLY PAID SHARES IN CO TO BE ISSUED TO VENDORS AT EQUIVALENT OF $0.22 CENTS PER SHARE, USD $1 MLN IN CASH

* PROPOSED ADCEL ACQUISITION EXPECTED TO IMMEDIATELY ADD A$2 MLN IN REVENUES IN FIRST FULL YEAR AFTER COMPLETION

* CONDUCTED ASSOCIATED CAPITAL RAISING, TO RAISE AUD$2 MLN AT $0.16 CENTS PER SHARE Source text for Eikon: Further company coverage:

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