Vinyl Group (ASX:VNL) agreed to acquire digital city guide Concrete Playground for a total of AU$5 million, according to a Thursday filing with the Australian bourse.

The consideration includes AU$3.5 million in cash and AU$1.5 million in shares through a share sale agreement, resulting in the issue of 12.7 million shares priced at $0.118 apiece, the filing said.

From the cash consideration, AU$300,000 will be deposited into an escrow account as security for claims under the agreement for 12 months from date of completion.

The transaction is anticipated to be completed by Feb. 28, 2025, according to the filing.

Shares rose nearly 2% in afternoon trade Friday.