XML Global Technologies, Inc. announced that it has signed a definitive agreement to sell all of its business assets to Xenos Group Inc. Xenos will acquire XML Global’s intellectual property, customer relationships, and operating assets and will retain most employees. The terms of the transaction call for Xenos to pay $1,250,000 and to issue 1,000,000 shares of common stock to XML Global in exchange for the purchased assets, including the GoXML eBusiness product line. Xenos will provide a price guarantee on the Xenos shares to XML Global such that Xenos under certain conditions may make additional cash payments to XML Global, not to exceed C$1,340,000, in the event that Xenos shares are trading below C$3.50 prior to the anniversary date of the closing. The parties hope to be able to consummate the purchase and sale by the end of December 2003. Xenos and XML Global have entered into a co-marketing agreement allowing Xenos to market and sell XML Global’s products and services pending completion of the acquisition. www.xenos.com, www.xmlglobal.com
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