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CalAmp completes acquisition of SmartLink Radio Networks, provider of interoperable radio communications platforms for public safety
April 5, 2007
OXNARD, Calif. -- CalAmp Corp. (Nasdaq:CAMP), a leading provider of wireless communication solutions, reported today that it has completed the previously announced acquisition of SmartLink Radio Networks, a privately-held company that provides proprietary interoperable radio communications platforms and integration services for public safety and critical infrastructure needs. This acquisition expands CalAmp’s existing public safety communications business by offering mobile voice infrastructure solutions.
Under terms of the purchase agreement, CalAmp acquired certain assets and assumed certain liabilities of SmartLink for $8.1 million in cash. CalAmp financed the transaction with existing cash on hand. SmartLink generated unaudited revenues of approximately $1.4 million during the three months ended March 31, 2007 and has a current order backlog of approximately $3.5 million. The acquisition is expected to be accretive to CalAmp in the first year after excluding amortization of intangible assets and a one time charge for In Process R&D arising from the acquisition. CalAmp will transition SmartLink’s operations in Wallingford, Connecticut to its Dataradio facilities in Montreal, Canada and Atlanta, Georgia over the next several months.
CalAmp Corp. (Nasdaq:CAMP)
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