Hubify Limited (ASX:HFY) acquired ICNE Pty Ltd and Smile Telemarketing for $2.8 million on June 10, 2021. As per the transaction, Hubify Limited will acquire ICNE Pty Ltd for $2 million and Smile Telemarketing for earnout consideration based on FY22 EBITDA upto $0.75 million. The consideration consists of 50% in cash and 50% in shares of Hubify Limited. Payment of Smile Telemarketing will be made by 50% cash and 50% shares in Hubify at the 14 day VWAP at time of issue. Hubify will retain Smile Telemarketing executive management (sole shareholder) and staff as part of the acquisition. Hubify will retain all ICNE management and staff, including founder and CEO John Martin. The team will form an important part of HFY’s expanded team delivering full service telco/MSP solutions. Hubify Limited (ASX:HFY) completed the acquisition of ICNE Pty Ltd and Smile Telemarketing on June 10, 2021.