Hawkwing plc has announced that it has entered into a non-legally binding heads of terms for the acquisition of Internet Fusion Group ltd.
The acquisition would help to fund and accelerate Internet Fusion Groups acquisition pipeline of e-retailers.
Internet Fusion Group is an ecommerce aggregator that uses its technology platform to change the economics of speciality e-retail.
Following completion of the proposed acquisition, it is intended that the enlarged group will be chaired by John Browett and the chief executive officer will be Joe Murray.
In addition, the Proposed Acquisition, deemed to be a reverse takeover under the listing rules of the FCA, means that Hawkwings initial listing will be suspended.