Babylon Pump & Power Limited (ASX:BPP) entered into an agreement to acquire RHB Engineering Pty Ltd for AUD 3 million on December 29, 2022. Of the total consideration AUD 1.8 million is payable on completion in cash and the remaining AUD 1.2 million is deferred cash component of 12 equal monthly deferred consideration payments of AUD 0.1 million which will be financed by the vendor and funded by RBH's ongoing operations. The transaction is subject to standard conditions precedent of a transaction of this size and nature.

The transaction is expected to close on January 31, 2023.