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Momentum Advanced Solutions Inc. announced the acquisition of the IT hosting division of BroadSpire Inc. located in Los Angeles, California. Momentum purchased the business for $2.66M USD before transaction costs with $1.70M USD satisfied by way of cash on closing and the balance by way of a note payable over 24 months, with payments beginning 6 months after the closing date. The addition is expected to add approximately $1.50M to Momentum's current managed services revenues.
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