MDSI agrees to its acquisition by @Road
Jun 1, 2004 12:00 PM
@Road, provider of mobile resource management services, and MDSI, provider of mobile workforce management software systems, have signed a definitive agreement providing for the acquisition of MDSI by @Road.
The planned acquisition of MDSI positions @Road to use software sales and installations to drive new services and subscriptions to a worldwide market. @Road intends to cross-sell the companies' systems as well as further develop the combined technologies to provide customers seamlessly integrated services. In addition, acquisition of MDSI allows @Road to further penetrate key vertical markets, including utilities, telecommunications, and cable and broadband markets.
Combined trailing 12-month revenues for the two companies total $110 million. Together, the combined companies expect to have close to $100 million in cash balances, 650 employees, more than 125,000 subscribers, and more than 80,000 licensed users worldwide.
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