High Wire Networks, Inc., based in Batavia, Illinois, has announced that on June 27, 2024, its wholly-owned subsidiary HWN, Inc. entered into an Asset Purchase Agreement with INNO4 LLC. The agreement entails the sale of certain assets related to the company’s technology services business for a base purchase price of $11.2 million, subject to adjustments. The assets were sold on the same day the agreement was made. Additionally, standard representations, warranties, indemnifications, and escrow arrangements have been detailed, including post-closing adjustment obligations and indemnification obligations totaling $625,000 in escrow accounts. The company also issued a press release about the transaction on June 27, 2024.
Proper Names: - High Wire Networks, Inc. - HWN, Inc. - INNO4 LLC - Mark Porter (Chief Executive Officer)