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ZTEST Electronics Inc., which provides electronic manufacturing services (EMS) to a wide range of customers in Canada, has acquired a 15.05% equity interest in Conversance Inc., a private Waterloo-based technology company, for $210,000 in cash consideration, and the issuance of 1,325,000 common shares of ZTEST at a deemed price of $0.0525 per share.
The company is making the investment to provide working capital that will be used to continue development of a prototype software platform for businesses that helps manage communications with customers across the entire spectrum of instant communications, including, but not limited to, texts, instant messengers and social media.
