Nuvini Group Limited (NASDAQ: NVNI) reported progress toward completing its acquisition of a 51% controlling interest in Beyondsoft Corporation's consulting and services operations in the United States, Brazil and Singapore.

The transaction would create a combined platform with approximately $148 million in pro forma fiscal 2025 revenue, representing roughly four times Nuvini's current revenue base. The combined entity would serve over 22,400 customers across 15 countries.

According to the company's announcement, several closing conditions have been completed including incorporation of the target company, obtaining Beyondsoft shareholder approval for the transaction, and assignment of a commercial contract with an enterprise client to the target entity.

Remaining conditions include completion of final regulatory filings, finishing the target company's corporate restructuring, and execution of a shareholders' agreement and transition services agreement. Nuvini stated it expects to satisfy these remaining conditions in the near term.

The Brazilian software company has begun establishing corporate infrastructure to operate the combined business as a single entity upon transaction completion. "This is the most important transaction in Nuvini's history, and it is coming together exactly as we planned," said Pierre Schurmann, founder and chief executive officer.

Nuvini, based in São Paulo, acquires business-to-business software-as-a-service companies in Latin America. The company reported 193 million reais in net revenue for fiscal 2024 with 62.1% gross margins and 26.4% EBITDA margins.

The company cautioned that closing remains subject to satisfaction of conditions and that anticipated benefits cannot be assured. The information was disclosed in a press release and Form 6-K filing with the Securities and Exchange Commission.