The deal will see Bragg purchase Spin in a cash-and-stock transaction valued at $30m. Spin will receive $10m in cash and $20m in common shares of Bragg, of which $5m worth of shares will be issued on closing, with the remainder over the next three years.
Following completion, Spin’s founder and CEO Kent Young will join Bragg as president for the Americas where he will play a key role in the company’s US market growth strategy.