Jasper Commerce Inc (TSE:JPIM) has released an update.
Jasper Commerce Inc. has agreed to sell its PIM business to Digital Commerce Payments Inc. for up to $1.5 million plus a revenue earn-out, amidst challenging conditions that thwarted its own operational objectives. The sale will leave Jasper’s subsidiary, JISI, without active business operations beyond rights to potential earn-out payments, and proceeds will go to Jasper’s creditors, providing no return to shareholders. The transaction is pending shareholder consent and regulatory approval, with trading on the TSX Venture Exchange suspended in anticipation of the completion.
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