Sept 6 (Reuters) - Updater Inc UPD.AX -
* Entered into binding purchase agreements with certain majority stockholders in relation to acquisition of IGC and ACI
* Updater will pay aggregate of us$21.0m for both entities, comprising of up to us$16.8m in cash and updater common stock valued at us$4.2m
* Launched an institutional placement of about a$50 mln to finance acquisition