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DataDot Technology Ltd Announces Acquisition Of JV Partner's Half-share of DataDot Security Solutions Inc


Monday, 14 Oct 2013 10:31pm EDT 

DataDot Technology Ltd announced that an agreement has been executed with DataDot Dealer Services LLC (DDDS) to acquire its half-share of DataDot Security Solutions Inc (DDSS). The acquisition will transfer to wholly-owned subsidiary DataDot Technology USA Inc (DDUSA) the 50%share in DDSS not already owned by DDUSA, so making DDSS a wholly owned subsidiary of DDT. DDSS is the entity responsible for the CopDots program and provision of DataDot product to customers of the National Metals Register operated by Verisk Analytics Inc in the US. The shares were transferred for a nominal consideration and on the basis that DDT will repay loan funds advanced to DDSS by DDDS. DDDS will continue as DDT’s exclusive distributor in the US auto warranty aftermarket, auto OEM and home security services sectors. 

Company Quote

0.027
-0.0010 -3.57%
24 Jul 2014