Concorde International enters SPA to acquire assets of Software Risk

Concorde International (CIGL) announced that its wholly owned subsidiary, Concorde International Group, has entered into a Software Purchase Agreement, SPA, to acquire the assets of Software Risk, a cloud-based software-as-a-service platform designed to provide intelligent, organized, and sustainable facilities management. Under the terms of the agreement, Concorde Singapore will acquire the Software Risk assets for a total consideration comprising a cash payment of AUD 50,000, the issuance of 100,000 restricted Class A Ordinary Shares of the Company, subject to a 12-month lock-up, and a 10% revenue share from income generated through the Software Risk platform in the Australian market for a period of 12 months. According to an independent valuation report prepared by Markit Valuation Services Limited dated February 28, 2023, Software Risk was valued at approximately $57.5 million.