PNI Digital Media Inc. (TSX:PN) entered into an agreement to acquire QS Quarterhouse Software, Inc. from Roger Canann for CAD 1 million on April 8, 2013. As part of consideration, PNI might pay CAD 0.5 million over the 12 months following completion of the acquisition upon the completion of various milestones related to advancing the software solution with functionality designed to benefit PNI Digital Media's entry into new revenue producing areas. Upon completion of ... the transaction, Quarterhouse will continue operations as a wholly owned subsidiary of PNI. Roger Canann, the current principal of Quarterhouse will be appointed as Vice President, United States Development of PNI. PNI Digital expects the transaction to have a marginally positive impact on revenue and marginally negative impact on cash for the remainder of fiscal year 2013. For fiscal year 2014, PNI Digital expects the transaction to have a positive impact to both revenue and cash. Cory Kent of McMillan LLP acted as a legal advisor to PNI Digital Media Inc. Christopher. S. Miller of Pepper Hamilton LLP acted as a legal advisor to QS Quarterhouse Software, Inc.
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