Purplebricks, a leading online real estate platform, is facing a legal dispute that could potentially jeopardize its recent acquisition of Strike Group. The dispute centers around the validity of the agreement between Purplebricks and Strike Group.
The acquisition was announced in late 2019 and was set to be finalized in early 2020. The deal was worth an estimated $20 million and would have seen Purplebricks acquire all of Strike Group’s assets, including its technology and customer base.
However, the deal is now in jeopardy due to a legal dispute between Purplebricks and Strike Group. According to reports, the dispute centers around the validity of the agreement between the two companies. It is believed that Purplebricks is arguing that the agreement was not properly executed and is therefore invalid.
Strike Group, on the other hand, is arguing that the agreement is valid and should be honored. The company has reportedly filed a lawsuit against Purplebricks in an attempt to force it to honor the agreement.
The outcome of this legal dispute will have a significant impact on both companies. If Purplebricks is successful in invalidating the agreement, then the acquisition will not go through and Strike Group will not receive any of the money from the deal. On the other hand, if Strike Group is successful in forcing Purplebricks to honor the agreement, then the acquisition will go through as planned and Strike Group will receive the money from the deal.
The legal dispute between Purplebricks and Strike Group is ongoing and it is unclear when it will be resolved. Until then, the future of the acquisition remains uncertain. It is likely that both companies will continue to fight for their respective positions in court until a resolution is reached.