I.D. Systems (IDSY) Acquires didBOX
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I.D. Systems, Inc. (Nasdaq: IDSY) has acquired didBOX, a privately-held manufacturer and marketer of vehicle operator identification systems based in the United Kingdom. The all-cash transaction is valued at 402,000 pounds (approximately $660,000), with 325,000 pounds ($533,000) paid up front and the balance due 12 months from the contract date, based on achievement of certain revenue and operating profit targets. In its fiscal year ended May 31, 2009 (unaudited), didBOX realized a nominal profit on revenues of approximately 402,000 pounds ($660,000).
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