NameSilo Technologies Corp. Enters into Definitive Share Purchase Agreement to acquire Reach Systems, Inc.

Executive Summary

• NameSilo Technologies Corp. entered into a definitive share purchase agreement to acquire Reach Systems, Inc., a Canadian engineering and manufacturing firm specializing in remote inspection and subsea equipment.
• Total consideration is $4.5 million, comprised of $3.36 M in newly issued NameSilo common shares ($1.7335 per share), $978,699 cash, and repayment of $159,753 in shareholder loans.
• The acquisition provides NameSilo with robotics and autonomous platform capabilities and immediate synergies with its SewerVUE business for large‑diameter pipe inspection.

Key Details

• Transaction Structure: Share purchase of all issued and outstanding shares of Reach Systems.
• Purchase Price: $4,500,000 total.
• Equity Component: 1,939,168 NameSilo common shares at $1.7335 per share = $3,361,547.
• Cash Payment: $978,699 payable at closing.
• Loan Repayment: $159,753 of outstanding shareholder loans to be repaid.
• Hold Period: Issued NameSilo shares are subject to a lock‑up of four months and one day from issuance date.
• Closing Conditions: Subject to customary conditions set forth in the Share Purchase Agreement; no insider relationships between the parties.
• Strategic Rationale: Adds robotics, autonomous platforms, and subsea camera/winch solutions to NameSilo’s portfolio; creates cross‑selling opportunities with SewerVUE’s pipe inspection technologies across oil & gas, petrochemical, defense, and marine markets.
• Management Comment: CEO Paul Andreola highlighted the “significant robotics and autonomous platform exposure” and the ability to offer “best‑in‑class, vertically integrated multi‑sensor products and services.”

Notable Quotes

“Reach Systems brings significant robotics and autonomous platform exposure to a growing number of industrial applications… The acquisition of Reach will allow us to offer best-in-class, vertically integrated multi‑sensor products and services for remote and challenging applications,” – Paul Andreola, President, CEO & Director, NameSilo Technologies.