CIMG Agrees $40M Share Deal to Acquire Biopharma Firm Daren Business Technology
CIMG will acquire 100% of Daren Business Technology for $40M in escrowed shares, with closing expected in 30 days. Escrowed shares vest in four phases from April 2026 to September 2029 upon Daren hitting revenue targets of $29M, $71M, $143M and $257M, releasing 6%, 14%, 28% and 52% of shares per phase.
1. Deal Structure and Terms
CIMG’s wholly owned subsidiary DZR Tech Limited will acquire 100% of Daren Business Technology by issuing approximately $40 million in company shares held in escrow. The transaction is subject to customary closing conditions and is expected to finalize within 30 days of the February 5 agreement date.
2. Performance Milestones and Escrow Release
The escrowed shares will vest over a 3.5-year assessment period in four tranches tied to audited revenue targets: $29 million for April 1, 2026–September 30, 2026; $71 million for October 1, 2026–September 30, 2027; $143 million for October 1, 2027–September 30, 2028; and $257 million for October 1, 2028–September 30, 2029. Shares will release in phases at 6%, 14%, 28% and 52%, with adjustments or cancellations if targets are not met.
3. Strategic Rationale and Outlook
The acquisition marks CIMG’s entry into the biopharmaceutical sector, complementing its digital health and sales development business. This diversification strategy aims to leverage Daren’s R&D, production and supply chain capabilities to build a new growth engine and broaden the company’s technology-driven service offerings.