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Calamp Accelerates Pivot To Subscription Services With Synovia Solutions Acquisition


Monday, 15 Apr 2019 07:40am EDT 

April 15 (Reuters) - CalAmp Corp ::CALAMP ACCELERATES PIVOT TO SUBSCRIPTION SERVICES WITH SYNOVIA SOLUTIONS ACQUISITION.CALAMP CORP - DEAL FOR APPROXIMATELY $50 MILLION IN CASH..CALAMP CORP - SYNOVIA ACQUISITION IS ANTICIPATED TO BOOST CALAMP'S RECURRING REVENUE FROM SAAS SERVICES TO OVER $30 MILLION A QUARTER.CALAMP CORP - DEAL TO BOOST CALAMP'S REVENUE FROM SAAS SERVICES TO OVER $30 MILLION A QUARTER BY SECOND HALF OF CURRENT FISCAL YEAR.CALAMP CORP - ACQUISITION EXPECTED TO HELP DRIVE MARGIN EXPANSION AND BE ACCRETIVE TO CALAMP'S CONSOLIDATED ADJUSTED EBITDA IN CURRENT FISCAL YEAR. 

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12.87
-0.2 -1.53%
20 May 2019