IT services company CSG (ASX:CSV) has said its deal to provide an international license for its educational software to Entellect Solutions will not proceed.
CSG had intended to grant the license in return for $9.75 million worth of shares in shares in Entellect – an 18% stake.
But Entellect entered a trading halt today after its core subsidiary entered voluntary administration.
CSG said the conditions of the deal could not be met by Entellect.
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