CALGARY, DECEMBER 30, 2016 -- Pure Technologies Ltd. announced today that it has closed its previously announced acquisition of the business and related assets of E-MAC Corrosion Inc., a provider of oil and gas pipeline inspection and corrosion prevention services.
"We are pleased to complete this transaction before the end of the year and welcome all new employees to the Pure family," said Jack Elliott, President and CEO of Pure. "We look forward to integration activities in the coming days and to the expected benefits to PureHM, and the Company overall, in 2017 and beyond."
As stated within the Company's news release dated December 21, 2016, the purchase price was $4.60 million, consisting of $3.45 million in cash and $1.15 million in restricted shares of Pure.
About Pure Technologies Ltd.
Pure Technologies Ltd. is an international asset management, technology and services company which has developed patented technologies for inspection, monitoring and management of critical infrastructure around the world. Pure's business model incorporates four distinct but complementary business streams: sales of proprietary monitoring technologies for pipelines, bridges and structures; recurring revenue from data analysis, site maintenance, and from technology licensing; Premium technical services including pipeline inspection, leak detection and condition assessment; and specialized engineering services in areas related to asset management, primarily in the area of pipeline condition assessment for water and wastewater infrastructure.