/Mergers and acquisitions
MITK, the leading innovator of mobile capture and identity solutions for customer acquisition, today announced that it has entered into a definitive agreement to acquire IDchecker, a global provider of cloud based identity document verification and facial recognition solutions, for an aggregate purchase price of up to $10.6 million, of which $5.85 million will be payable in cash, $2.75 million in Mitek common shares at the close of the acquisition, and, subject to the achievement of certain revenue and net income targets for IDchecker through September 30, 2016, up to an additional $2 million in Mitek common shares.