Universal mCloud

Universal mCloud Corp. has signed a final binding definitive agreement to acquire Fulcrum Automation Technologies and Autopro Automation Consultants. The total consideration is C$18 million in cash plus 60 million mCloud shares, valued at approximately C$40.2 million.

Universal mCloud Corp. has signed a letter of intent to acquire Fulcrum Automation Technologies, which in turn will acquire Autopro Automation Consultants Ltd. The combined transaction is expected to close in July 2019.

Universal mCloud announced a six-year agreement with TELUS Corporate Real Estate to upgrade HVAC controls and deploy AssetCare at a TELUS office tower in Scarborough, Ontario. The project will upgrade 450 thermostats across 14 floors.