Australian company ActivePort Group (ASX:ATV) has entered into a non-binding letter of intent for a potential share purchase transaction of Turnium Technology Group.

Turnium, a leader in SD-WAN software development, is an existing technology supplier to ActivePort and reported a revenue of $CAD5.1M for the full year ending September 2022..

ActivePort says the deal would involve a non-cash 100% share swap of Turnium shares for ActivePort shares.

It also says the acquisition would bring valuable engineering capacity to ActivePort and extend its reach into North American markets.