Control Bionics (ASX:CBL) has completed the acquisition of 100% of Neuro Elite Athletics, the US company behind the NeuroBounce athletic performance program.
The transaction, previously announced on Dec. 3, was finalised through Control Bionics' US subsidiary, Control Bionics Ngage, making Neuro Elite Athletics a wholly owned subsidiary.
The final consideration of US$370,028 was settled by issuing 8,443,747 ordinary shares at $0.0653 each, under the company's existing ASX placement capacity.
The acquisition will enable integration of NeuroBounce with Control Bionics' NeuroStrip EMG technology, supporting expansion into sports performance and human optimisation markets.
Jeremy Steele, CEO of Control Bionics, described the acquisition as a key milestone to accelerate commercial partnerships and growth in elite sport and performance optimisation.
Steve Bennett, Founder of Neuro Elite Athletics, noted that the merger represents a natural evolution of a long-standing partnership, creating a platform for global scaling of NeuroBounce.
At the time of reporting, Control Bionics' share price was $0.062.