QualityStocksNewsBreaks – PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) Announces 60% Acquisition of Leading iPad Solution for Auto Dealers, Drivers
PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA), a leader in online vehicle transactions using smartphones, has announced that it has added IntellaCar to its virtual transaction platform. PBX made the addition by signing a membership interest purchase agreement through its subsidiary DRIVRZ US LLC. ("DRIVRZ US") to acquire 60% of IntellaCar, a leading iPad solution for automotive dealers and drivers. The agreement outlines plans for DRIVRZ to pay $1.5 million in cash, along with 2 million common shares of PBX, for the transaction. The total purchase price, which was negotiated at arm's length and is based on an issuance…