LIG Assets has agreed to sell its remaining assets in SuiteMagic to focus on its core real estate business.
LIGA stockholders received a dividend of one share of SuiteMagic for every three shares of LIGA held on 30 April 2012.
Those shareholders who received dividend shares will become part of a new entity and will receive information from the acquiring party soon. Terms of the purchase were not disclosed.
LIG Assets chief executive Jeff Love says: "My chairman's message issued on 16 January 2013 and other announcements since have clearly stated our focus remains on real estate, and the bulk of our assets continue to be in real estate. The strategic alliance formed in December 2012 to focus on much larger, more valuable properties is stronger than ever, and is expected to consume our time for the foreseeable future."