StockMarketWire.com - Networking and medical laboratory systems tech provider BATM said it had entered an option agreement to sell its legacy software services subsidiary NG Soft for about $33 million to Aztek Technologies.

The move would allow the company to fund its plan to accelerate growth in its core networking & cyber and bio-medical divisions.

Under the terms of the option agreement, BATM would have the option, but not obligation, to sell the entire issued share capital of NGSoft for a NIS 105.1 million, or $33 million.

The group's consideration included a NIS 15.5 million loan repayment from NGSoft and a NIS 2.1 million dividend payment, both to be received upon the exercise of the option, the company said.









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