08:22 AM EDT, 06/11/2024 (MT Newswires) -- Copperleaf Technologies ( CPLFF ) said Tuesday that it agreed to be bought by Industrial and Financial Systems in a deal representing a total equity value of about $1 billion on a fully diluted basis.

Under the deal, Industrial and Financial Systems will indirectly acquire all of the outstanding common shares of Copperleaf ( CPLFF ) for $12 in cash apiece.

The consideration represents a premium of about 18% to the closing price of the shares on the Toronto Stock Exchange on June 10 and a premium of about 66% to the 90-day volume weighted average trading price of the shares on the TSX as of the same date.

The company's stock rose 7.1% in Canada yesterday to close at $10.15.