Good Life Networks acquires adtech company

The company will acquire all issued and outstanding shares for $6 million U.S.
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Good Life Networks (GLN) is set to acquire connected advertising technology company Impression X, according to an announcement made Thursday.

The Vancouver-based programmatic ad tech company, which provides hyper-focused targeting to advertisers, entered into a binding letter of intent (LOI). It is set to acquire all issued and outstanding shares in the company for an aggregate purchase price of $6 million U.S.

The total consideration will be a combination of cash and shares on a performance basis over the next few years.

The LOI requires that standard due diligence is completed within 60 days, however neither party sees anything getting in the way of reaching a definitive agreement, according to a GLN spokesperson.

The acquisition will allow GLN to expand beyond mobile and desktop to deliver ads to connected television, according to the spokesperson.