10:28 AM EDT, 05/29/2024 (MT Newswires) -- Onfolio Holdings ( ONFO ) said Wednesday its RevenueZen subsidiary has acquired substantially all of the business assets of First Page Strategy, a privately held search engine optimization and advertising consulting firm.

The asset purchase deal included a nominal cash down payment, Onfolio ( ONFO ) said, with the rest of the undisclosed consideration paid through a revenue-sharing agreement between the companies over 36 months.

First Page leadership and strategist roles will continue under RevenueZen and the two companies' websites will be combined on revenuezen.com, Onfolio ( ONFO ) said, adding RevenueZen expects to realize significant cost savings with the acquisition.

Onfolio ( ONFO ) shares were sinking over 16% in recent trading Wednesday.

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