Item
1.01.
Entry into a Material
Definitive Agreement.
On March
26, 2008, Intelligentias, Inc. (the “Company”) consummated a Termination and
Release (the “Termination and Release”) with VMH GmbH (“VMH”), Lydia Krowka
(“Krowka”) and Datakom Gesellschaft fuer Datenkommunikation mbH (“Datakom”) in
order to terminate that certain Stock Sale Agreement, dated as of June 7, 2007
and amended on November 13, 2007 (the “Stock Sale Agreement”), between the same
parties, as of December 15, 2007. Additional information concerning
the Stock Sale Agreement may be found in a Form 8-K filed by the Company with
the Securities and Exchange Commission on June 12, 2007. Pursuant to
the terms of the Termination and Release, which is effective as of February 28,
2008, the Company, on the one hand, and VMH, Krowka and Datakom, on the other
hand, have agreed to release one another from any and all claims by and between
the parties which have arisen or may have arisen under the Stock Sale
Agreement.
On March
26, 2008, the Company also consummated a Business Cooperation Agreement (the
“Business Cooperation Agreement”) with Datakom for the purpose of cooperatively
marketing and selling their respective computer software products and
services. Pursuant to the Business Cooperation Agreement, the parties
have agreed to (i) jointly market and sell, on a case by case, non-exclusive
basis, their products to mutually identified customers; (ii) appoint the Company
as the exclusive representative to market Datakom’s G-TEN line of products in
Italy, Argentina, Brazil, Chile, Venezuela, Peru, Columbia, Guatemala, Costa
Rica, Panama and Mexico; and (iii) order computer software products and services
from the other party for resale to end-users on a non-exclusive world-wide
basis. As compensation for such arrangements, Intelligentias has
agreed to pay Datakom $2.15 million pursuant to the terms of the Business
Cooperation Agreement. Unless earlier terminated according to its
terms, the Business Cooperation Agreement is effective for eighteen months from
February 28, 2008 (the “Term”), subject to an automatic six month renewal
at the expiration of the Term unless either party notifies the other in writing
at least thirty days prior to the end of the Term of its election to allow the
Term to expire unrenewed.
The
foregoing does not constitute a complete summary of the terms of the Termination
and Release and the Business Cooperation Agreement, which are attached hereto as
Exhibits 10.1 and 10.2, respectively. The descriptions of the terms of the
Termination and Release and the Business Cooperation Agreement are qualified in
their entirety by reference to such exhibits filed herewith and incorporated
herein by reference.