Infomedia (ASX:IFM) said it completed the previously announced acquisition of a 50% stake in Intellegam on Wednesday after all the closing conditions were met, according to a same-day Australian bourse filing.
The company issued about 2.9 million shares to the vendors as purchase consideration.
Infomedia has the right to acquire the remaining stake in the artificial intelligence startup within around five years of completion.
The firm's shares fell almost 3% in recent trading on Wednesday.
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