Onfolio Holdings to acquire Contentellect for $850K cash

Onfolio Holdings announced that it has entered into an asset purchase agreement with Contentellect Limited to acquire substantially all its business assets for a purchase price of $850,000 of cash at closing. The transaction is expected to close in the first quarter of 2023. Contentellect was launched in 2018 and began as a specialist content writing service for software-as-a-service companies. Contentellect helps small-and medium-sized businesses scale their content with blog writing, link building, and more. The service offering consists of copywriting and outreach services such as content writing services, website link building services, social media marketing services and virtual assistant services to individuals, businesses and agencies. The content created helps customers by improving organic traffic via search engines, enables them to conduct thought-leadership, and gives sales and marketing teams relevant and usable content at the top and middle of the marketing funnel. Contentellect reported $330,000 of adjusted EBITDA in 2021.