Xenos Group Inc. of Toronto and XML Global Technologies Inc. of Vancouver have signed a letter of intent under which Xenos will acquire substantially all of the business assets of XML Global. Xenos will acquire XML Global's intellectual property, customer relationships and will retain all employees, according to an announcement.
The transaction is subject to a final agreement as well as regulatory and shareholder approvals. The deal is expected to be completed about Sept. 30. The companies said further details will be made available when a final agreement is signed.