Electronic payment systems company iCash (ASX:ICP) has completed the acquisition of Pulse International for $4.5 million.
The company said the acquisition has granted it ownership of the source codes and rights for installations of financial software suite TPII.
As part of the arrangement, former Pulse parent the Sherman group has agreed to subscribe to 30.5 million iCash shares at 5.5 cents per share. ICP shares are currently trading at 5.1 cents per share.
The Sherman group will become a top 10 shareholder following the purchase.