Information Analysis Closes Acquisition of Gray Matters, Inc.
IAI announced it has closed the previously announced acquisition of Gray Matters, Inc (“Gray Matters”). The consideration at closing consisted of $7.5 million cash; deferred consideration of $1.5 million; and $1.5 million in IAI stock. The terms also include up to $4.0 million in additional consideration for achieving certain performance metrics in 2022. Gray Matters is a leader in blockchain and encryption algorithm technology and was founded to solve real-world problems through purpose-built innovation in secure Supply Chain Management (SCM) in United States intelligence, national security and diplomatic organizations. In the short time it has been in existence, the company has transformed how blockchain supports SCM; constructing a Zero Trust product to secure and monitor the lifecycle of mission-critical materials from manufacturing through destruction and recycling. Please see the related press release under the “News” section on this website.