Projection technology developer Digislide Holdings (ASX:DGI) has announced it will not proceed with its planned capital raising after calling off the acquisition of Australia Live TV (ALTV).
Digislide announced it had terminated the deal to acquire IPTV company ALTV on Wednesday.
Due diligence had determined that the acquisition would not be in the best interests of Digislide shareholders, the company said.
A planned two-stage capital raising has now been called off, including the issue of shares already placed during the first stage.
Previously-announced appointments of ALTV representatives to the Digislide board will also not proceed.