09:11 AM EST, 11/26/2025 (MT Newswires) -- NameSilo Technologies ( URLOF ) on Wednesday said it entered into a letter of intent to acquire 100% of the issued and outstanding shares of Reach Systems based in Nanaimo, British Columbia, Canada.

A statement noted that Reach Systems is a Canadian-based engineering and manufacturing firm that specializes in the design and assembly of remote inspection equipment, cable/tether management systems, and underwater/subsea camera & winch solutions.

Under the terms of the LOI, NameSilo ( URLOF ) and Reach agreed to settle the terms of a definitive share purchase agreement whereby NameSilo ( URLOF ) will acquire all of the issued and outstanding shares of Reach. In consideration thereof, the total payable for Reach will be C$4.5 million, said the company.

The purchase price of the transaction was determined by arm's length negotiations of the parties, added the company.

The company said that closing of the acquisition of Reach is subject to the parties entering into a definitive share purchase agreement, completion of due diligence of Reach by NameSilo ( URLOF ) and satisfaction of the conditions set forth in the definitive share purchase agreement.