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CalAmp Corp Completes Wireless Matrix Corporation Acquisition


Monday, 4 Mar 2013 09:00am EST 

CalAmp Corp announced that it has completed the previously announced acquisition of the operations of Wireless Matrix Corporation. The purchase price was $52.9 million paid in cash at closing. The assets acquired by CalAmp included cash of approximately $6 million. CalAmp funded the purchase price primarily from the net proceeds of its recent equity offering of approximately $45 million. CalAmp expects to record acquisition related expenses of $0.3 million in the fiscal 2013 fourth quarter. The Company also expects the transaction will be accretive to non-GAAP earnings per share in fiscal 2014 and beyond as it significantly improves CalAmp's competitive positioning and growth prospects. 

Company Quote

0.59
-0.01 -1.67%
14 Mar 2013