iWOW Technology Limited (Catalist:NXR) entered into a non-binding term sheet to acquire ROOTS Communications Pte Ltd for SGD 18 million on September 19, 2022. iWOW Technology Limited (Catalist:NXR) entered into a sale and purchase agreement to acquire ROOTS Communications Pte Ltd from Funtec Resources Pte Ltd, Tio Ngi Hin, Teo Lai Seng and Chan Kin Ko on December 21, 2022. Consideration which is capped at SGD 18 million shall be satisfied by a combination of cash and issuance of the Consideration Shares. Completion of the sale and purchase of the Sale Shares is conditional upon the following conditions precedent, all consents, approvals, actions or filings, or giving of notices to, any Governmental Authority. Target Company and the Malaysia Subsidiary having each obtained all the third party prior written consents for the sale and transfer of the Sale Sales from the Vendor to the Company. the completion of the due diligence investigations, the approval of the board of directors of the Target for the sale of the Sale Shares, the approval of the Board of the Company in respect of the transactions contemplated in the Definitive Agreement upon the terms and conditions set out in the Definitive Agreement having been obtained. Completion of the Proposed Acquisition shall take place on a date falling fourteen (14) days after all the Conditions Precedent are fulfilled. As of January 6, 2023, received the listing and quotation notice from the Singapore Exchange Securities Trading Limited in respect of the listing and quotation of the 1st Tranche Consideration Shares, i.e., 12,960,000 new ordinary shares in the capital of the Company to be issued at SGD 0.25 per Consideration Share in connection with the Proposed Acquisition, subject to the Company's compliance with the SGXST's listing requirements.

iWOW Technology Limited (Catalist:NXR) completed the acquisition of ROOTS Communications Pte Ltd on January 31, 2023.