Access1 Acquires Didasko Software

Access1 has announced the acquisition of Australian vocational training developer, Didasko Software.

Under the agreement Access1 will purchase all shares in the privately owned company for a combination of shares and cash and will issue 50 million new shares plus pay $1.13 million cash over the next 18 months to acquire 100 per cent of Didasko.

These shares will be escrowed for a period of two years and 20 million shares will be cancelled if substantial revenue and profit targets for the 2001 and 2002 years do not exceed $20 million and the associated profit (EBITDA) does not exceed $4 million, provided Access1 has traded cash flow neutral for at least one quarter in the next six quarters.

Officials said the acquisition fulfils Access1's goal of the delivery of multimedia training direct to the PC in the workplace.

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