Morphotech IP Acquisition and Licence

Key points

• NoviqTech Services enters into an agreement with Morphotech Pte. Ltd.
• Agreement involves the acquisition of certain software and IP developed by Morphotech
• Acquisition subject to shareholder approval and must be completed by 31 December 2026

Full summary

NoviqTech Limited (ASX: NVQ) announces that NoviqTech Services Pty Ltd has entered into an agreement with Morphotech Pte. Ltd. to acquire certain software, source code, and related intellectual property developed by Morphotech for use in NVQ Services' Carbon Central and Fuel Central platforms. The acquisition is subject to shareholder approval due to the related party status of former NVQ director Freddy El Turk. The agreement includes an interim licence for NVQ Services to use the intellectual property until the acquisition is approved or terminated.

Outlook

NoviqTech intends to seek shareholder approval for the acquisition of the Post-Termination IP and related payment to Morphotech under ASX Listing Rule 10.1.