Corcentric announced that it signed a definitive purchase agreement with Determine to acquire substantially all the assets of Determine for cash of approximately $32M. This transaction is expected to close within the second calendar quarter of 2019. The purchase agreement, which has been approved by the Board of Directors of both companies, is conditioned upon, among other things, the approval of Determine's stockholders, and other customary closing conditions. In order to accommodate French labor law, the closing is also contingent upon the required prior consultation with Determine's works council. Subject to the satisfaction of these conditions, the transaction is expected to close in the second calendar quarter of 2019.
