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DecisionPoint Systems Inc Announces Acquisition Of Software Vendor APEX Systems Integrators Inc.

Tuesday, 5 Jun 2012 08:00am EDT 

DecisionPoint Systems Inc announced that it has acquired APEX Systems Integrators Inc., based in Burlington, Ontario, Canada (APEX). The purchase price was $5.0 million in cash at closing. In addition, there is an earnout and bonus capped at an additional $8.5 million, which is dependent upon future performance through July 31, 2015. The transaction is expected to be accretive to DecisionPoint's fiscal year 2012 earnings by approximately $0.15 per share on an annualized basis. APEX, a provider of wireless mobile work force software solutions, will operate as a wholly owned subsidiary of DecisionPoint. Don Dalicandro, APEX Chief Executive Officer, will continue in his role, reporting to Nicholas Toms, DecisionPoint's Chairman and Chief Executive Officer. Mr. Dalicandro will also join the Company's Board of Directors. Veracap Corporate Finance acted as financial advisor to the vendors and APEX. 

Company Quote

-0.0030 -0.71%
17 Apr 2014