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M&A / Property

Mobio Technologies closes Karve IT acquisition

By The Northwire Desk — AI Analysis Nov 19, 2025 · 19:41 MBO · 0.08 Mobio Technologies Inc
MBO · Price

Executive Summary

  • Mobio Technologies Inc. completed the acquisition of 100% of the issued and outstanding shares of Karve IT Ltd., a British Columbia-based SaaS software developer.
  • The transaction was structured as a share exchange and a dividend in kind, resulting in Mobio holding all shares of Karve.
  • The acquisition is classified as a non-arm's-length transaction and is exempt from formal valuation and shareholder approval requirements as the fair market value does not exceed 25% of Mobio's market capitalization.

Key Details

  • Target Company: Karve IT Ltd., a BC software company specializing in customer relationship management, franchise management, and field services software.
  • Flagship Product: "Move Right," currently in use across 20 locations in North America.
  • Acquisition Structure:
    • Dividend in Kind: Tracksuit Movers Inc. (a wholly owned subsidiary of Mobio) transferred 200,000 common shares of Karve to Mobio. These shares were valued at $120,000 (60 cents per share).
    • Share Exchange: Mobio acquired 310,000 common shares of Karve from Plank Ventures Ltd. in exchange for issuing 2,861,538 common shares of Mobio from treasury. Plank's shares were valued at $186,000 (60 cents per share).
  • Valuation: The total consideration for the 510,000 total shares of Karve was valued at $306,000 ($120,000 + $186,000).
  • Regulatory Status: The transaction is non-arm's-length due to common control and management between Mobio and Plank. It is exempt from Multilateral Instrument 61-101 sections 5.5 (valuation) and 5.7 (shareholder approval) because the fair market value is under 25% of Mobio's market capitalization.
  • Closing Date: November 19, 2025.
  • Finders' Fees: None paid.

Notable Quotes

  • No direct quotes from executives were included in the provided text.
Read the original news release →

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