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Route1 Signs Definitive Agreement to Acquire PCS Mobile

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TORONTO, June 14, 2019 (GLOBE NEWSWIRE) — Route1 Inc. (OTCQB: ROIUF and TSXV: ROI) (the “Company” or “Route1”), an advanced North American provider of industrial-grade data intelligence, user authentication and ultra-secure mobile workforce solutions, today announced that it has entered into a share purchase agreement to acquire Portable Computer Systems, Inc. (“PCS Mobile”) from Kathy Pakkebier for US $2.5 million.

About PCS Mobile

PCS Mobile is a computer reseller with expertise in mobile data applications, including wireless products for in-vehicle use.  The company offers guidance and state-of-the-art mobile devices for a wide range of applications including utilities, telecommunications, field services, insurance, healthcare, Fire/EMT, police and public safety – as well as state and local government.

Based in Denver, Colorado, PCS Mobile services customers primarily located in the Southwestern and Rocky Mountain regions of the U.S.  Rugged devices and applications include but are not limited to Panasonic Toughbook mobile computers, Xplore and Getac rugged tablets, Genetec license plate recognition solutions, and accessories from Gamber-Johnson and Havis.

Based on prior year’s results, Route1 expects PCS Mobile to add annualized revenue of approximately US $15 million with a gross margin of 14% to 16%.  The EBITDA contribution from PCS Mobile is expected to be consistent with current Route1 results.

PCS Mobile currently has 19 employees or full-time equivalents.  Most of the company’s employees are based in the Denver, CO office.  Locations in which PCS Mobile has employees include Denver (CO), Oxnard and Los Angeles (CA), Detroit (MI), Omaha (NA) and Bridgeport (TX).

The retained team will be 15, including Kathy Pakkebier (President and CEO) and Martin Murphy (Vice President) under three-year employment agreements.  Post-closing, Ms. Pakkebier and Mr. Murphy will sit on Route1’s steering committee and each act in a sales / business development capacity.

LPR and Genetec

The addition of Genetec’s license plate recognition (LPR) solutions enhances Route1’s data security and data analytics portfolio of application software owned or resold with application enhancements.  Genetec is a provider of IP video surveillance, access control and license plate recognition solutions unified in a single platform. The company is known for providing license plate reading technology to law enforcement.

According to Grand View Research, Inc. the North American smart parking market is expected to reach US $4.11 billion by 2025, developing better solutions to avoid traffic congestion and for systematic positioning of vehicles across the cities are the key factors driving the market growth.  Off-street systems are also anticipated to gain traction due to the increasing traffic congestion in urban environments. This market segment is expected to witness considerable growth over the forecast period from 2017 to 2025 and was valued at US $672.6 million in 2016.

PCS Mobile is the leading supplier in the Mid-West for AutoVu, the Genetec LPR technology. The AutoVu™ automatic license plate recognition system automates license plate reading and identification, making it easier for law enforcement and for municipal and commercial organizations to locate vehicles of interest and enforce parking restrictions. Designed for both fixed and mobile installations, the AutoVu system is ideal for a variety of applications and entities, including law enforcement, municipal and commercial organizations. The AutoVu LPR solution is often coupled with rugged devices and accessories, further increasing the revenue opportunity for PCS Mobile.

Route1’s Strategy

Route1 is acquiring PCS Mobile to bring the “new” GroupMobile business model to the southwestern US – geographic expansion, add to the size and quality of the GroupMobile sales team, and leverage PCS Mobile’s current and future placement of rugged mobile devices and license plate recognition technology – creating significant opportunities to sell data security and analytics software applications and capabilities to PCS Mobile customers. 

Transaction Details

Route1 entered into a share purchase agreement on June 14, 2019 to acquire PCS Mobile with an expected closing date of June 28, 2019.  The two weeks between signing and closing will be used to complete business integration planning.

On closing, Route1 will pay Kathy Pakkebier US $2.5 million in the following consideration:

  • US $1,030,000 in cash.
  • US $500,000 in Route1 common shares. 11.2 million common shares; post-closing, Ms. Pakkebier will own approximately 3% of Route1’s undiluted common shares.  The issued Route1 common shares will not be tradable until a date no earlier than 12 months after the closing date; 50% tradeable after 12 months plus an additional 8.33% tradeable each month until 18 months after the date of closing, subject to a change of control provision.
  • US $250,000 in an unsecured note, Note A.  Principal amortization annually in arrears with amortization of $80,000 in year one and two, and $90,000 in the third year.  The annual interest rate is 3% paid annually in arrears.
  • US $720,000 in an unsecured note, Note B.   Amortization monthly in arrears with a straight line amount of $20,000.00.  The annual interest rate is 2.37% paid monthly in arrears.  The condition of payment is the continued employment of each of Ms. Pakkebier and Mr. Murphy, who are married.

Additional transaction terms include no assumption of indebtedness, a minimum cash balance of $200,000, a working capital balance that is reflective of the time of year and the nature of business, and a key employee non-compete and non-solicitation for a period equivalent to the term of employment plus two years.

Investor Conference Call and Webcast

The Company will also hold a conference call and web cast to discuss the Company’s first quarter financial results and provide a business update on Monday, June 17, 2019 at 9 a.m. eastern.

Participants should dial Toll-Free: 1-800-263-0877 or Toll/International: 1-646-828-8143 at least 10 minutes prior to the conference, pass code 1954942.  For those unable to attend the call, a replay will be available on Monday June 17, 2019 after 12:00 p.m. eastern at Toll-Free 1-844-512-2921 or Toll/International 1-412-317-6671, pass code 1954942 until 11:59 pm on Monday July 1, 2019. 

The webcast will be presented live at http://public.viavid.com/index.php?id=134761.

About Route1 Inc.
Route1, operating under the trade name GroupMobile, is an advanced North American provider of industrial-grade data intelligence, user authentication, and ultra-secure mobile workforce solutions. The Company helps all manner of organizations, from government and military to the private sector, to make intelligent use of devices and data for immediate process improvements while maintaining the highest level of cyber security.  Route1 is listed on the OTCQB in the United States under the symbol ROIUF and in Canada on the TSX Venture Exchange under the symbol ROI.  For more information, visit: www.route1.com.

For More Information, Contact:
Tony Busseri
Chief Executive Officer, Route1 Inc.
+1 416 814-2635
tony.busseri@groupmobile.com

This news release, required by applicable Canadian laws, does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

© 2019 Route1 Inc. All rights reserved. No part of this document may be reproduced, transmitted or otherwise used in whole or in part or by any means without prior written consent of Route1 Inc.  See https://www.route1.com/terms-of-use/ for notice of Route1’s intellectual property.

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

IT Industry

eSilicon Announces Availability of 7nm High-Bandwidth Interconnect (HBI+) PHY for Die-to-Die Interconnects

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The PHY supports 2.5D applications such as silicon interposers and silicon bridges for system-on-chip (SoC) to chiplets and SoC partitioning

SAN JOSE, Calif., Sept. 22, 2019 (GLOBE NEWSWIRE) — eSilicon, a leading provider of FinFET ASICs, market-specific IP platforms and advanced 2.5D packaging solutions, announced today its 7nm high-bandwidth interconnect (HBI™)+ physical interface (PHY) IP is available to be licensed for inclusion in customer designs. This special-purpose hard IP block delivers a high-bandwidth, low-power and low-latency wide-parallel, clock-forwarded PHY interface for 2.5D applications including system-on-chip (SoC) to chiplets and SoC partitioning for complex subsystems. Silicon interposer and silicon bridge technologies are supported.

eSilicon’s HBI+ PHY delivers a data rate of up to 4.0Gbps per pin. Flexible configurations include up to 80 receive and 80 transmit connections per channel and up to 24 channels per PHY with one redundant lane per channel to improve production yields. The part also supports built-in self-test (BIST), internal loopback and external PHY-to-PHY link tests. Standards supported include IEEE 1149.1 (JTAG) and 1149.6 (AC JTAG) boundary scan.

“eSilicon has a rich history of developing high-performance, high-bandwidth interconnect IP, from long-reach SerDes to die-to-die interconnect,” said Hugh Durdan, vice president, strategy and products at eSilicon. “This new HBI+ PHY will help to enable a growing chiplet ecosystem that is supported by many new and innovative technologies.”

The prior version of this PHY (HBI, 2.5 Gbps per pin) was used successfully on a customer ASIC at 14nm. eSilicon is currently in design with a major customer ASIC in 7nm using the HBI+ PHY.

To learn more about eSilicon’s 7nm and 5nm HBI+ PHY capabilities, you can visit its HBI web page or contact your eSilicon sales representative directly or via sales@esilicon.com.

About eSilicon
eSilicon provides complex FinFET ASICs, market-specific IP platforms and advanced 2.5D packaging solutions. Our ASIC-proven, differentiating IP includes highly configurable 7nm 56G/112G SerDes plus networking-optimized 16/14/7nm FinFET IP platforms featuring HBM2 PHY, TCAM, specialized memory compilers and I/O libraries. Our neuASIC platform provides AI-specific IP and a modular design methodology to create adaptable, highly efficient AI ASICs. eSilicon serves the high-bandwidth networking, high-performance computing, AI and 5G infrastructure markets. www.esilicon.com

Collaborate. Differentiate. Win.™

eSilicon is a registered trademark, and the eSilicon logo, neuASIC, HBI and “Collaborate. Differentiate. Win.” are trademarks, of eSilicon Corporation. Other trademarks are the property of their respective owners.

Contacts:  
Sally Slemons Nanette Collins
eSilicon Corporation Public Relations for eSilicon
sslemons@esilicon.com nanette@nvc.com
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IT Industry

Constellation Software Announces Appointment of Susan Gayner and Dexter Salna to its Board of Directors

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TORONTO, Sept. 20, 2019 (GLOBE NEWSWIRE) — The board of directors of Constellation Software Inc. (“Constellation”) (TSX: CSU) announced today the appointment of Susan Gayner and Dexter Salna to the Company’s Board of Directors.

Susan Gayner is President and CEO of ParkLand Ventures, Inc., an owner-operator of multifamily housing communities in the US.  She is a Chemical Engineer by training and prior to her tenure with ParkLand served in various capacities with both the DuPont Company and Hercules, Inc.  She currently serves on the board of directors of Synalloy Corporation, where she is chair of the Governance Committee.  She holds a BA (Chemistry) and an ME (Chemical Engineering), both from the University of Virginia.

Dexter Salna joined Constellation in 1995 and is currently the President of the Perseus operating group within Constellation.  Prior to his current position, Mr. Salna held various senior executive positions within the Volaris operating group of Constellation.

About Constellation Software Inc.
Constellation Software acquires, manages and builds vertical market software businesses

Contact:

Jamal Baksh
Chief Financial Officer
416-861-9677

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IT Industry

dynaCERT Provides Clarification-Retraction

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TORONTO, Sept. 20, 2019 (GLOBE NEWSWIRE) — dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) (FRA: DMJ) announces the following:

IIROC has requested disclosure from dynaCERT (and dynaCERT wishes to comply) that dynaCERT does not endorse the “BUY” recommendation nor the target price previously announced in a press release today regarding the independent research report produced by the Investment Research department of GBC AG.  Such research report was not paid for by dynaCERT and is considered independent of the Company.

About dynaCERT Inc.

dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment, marine vessels and railroad locomotives. Website: www.dynaCERT.com

READER ADVISORY

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to the potential expansion into new markets, industries and segments, such as diesel-powered use of any the dynaCERT products and sales. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

On Behalf of the Board
Murray James Payne, CEO

For more information, please contact:

Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com

Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
ir@dynaCERT.com

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