By Denny Jacob
ApartmentLove terminated two proposed acquisitions following a review that found material inconsistencies with due diligence materials produced by the vendors in each case.
The company, which provides online home, apartment and vacation marketing services, won’t proceed with its acquisitions of internet marketing company Traffic2Revenue and the assets of a luxury Internet listing real estate site.
The Canada-based company signed a non-binding letter of intent to acquire certain assets of Traffic2Revenue in October 2021. The two sides at the time said they expected 25% of the purchase price for the assets to be paid through issued shares in the capital of ApartmentLove while the remaining portion would be paid in cash.
ApartmentLove agreed to acquire certain assets of a luxury real estate internet listing site in May. The company said at the time it would provide additional details on terms and conditions if the two sides entered into a definitive asset-purchase agreement.
Write to Denny Jacob at [email protected]
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