OXNARD, CA--(Marketwired - Dec 18, 2013) - CalAmp Corp. (
RSI's Software-as-a-Service (SaaS) solutions are utilized by a wide variety of fleet types including applications in public works, waste management, transit and public safety. On a trailing 12-month basis, RSI generated revenue of approximately $5 million and was profitable.
Consideration for the acquisition was $6.5 million in upfront cash and future earn-out payments based on post-acquisition sales and gross profit performance. The transaction is expected to be accretive to CalAmp's overall margins and non-GAAP earnings per share in the coming fiscal year.
Commenting on the acquisition of RSI, Michael Burdiek, President and Chief Executive Officer of CalAmp, said, "The acquisition of RSI improves CalAmp's reach with municipal government customers with a vertically-focused mobile resource management SaaS offering. This acquisition increases our recurring revenue stream and enhances our growth prospects as city and county government agencies look to leverage the FirstNet broadband network for a range of voice, data, and video services."
Statements in this press release that are not historical in nature are forward-looking statements that within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995 involve known and unknown risks and uncertainties. Words such as "may", "will", "expect", "intend", "plan", "believe", "seek", "could", "estimate", "judgment", "targeting", "should", "anticipate", "goal" and variations of these words and similar expressions, are intended to identify forward-looking statements. Actual results could differ materially from those implied by such forward-looking statements due to a variety of factors, including product demand, competitive pressures and pricing declines in the Company's wireless and satellite markets, the timing of customer approvals of new product designs, intellectual property infringement claims, interruption or failure of our Internet-based systems used to wirelessly configure and communicate with the tracking and monitoring devices that we sell, and other risks or uncertainties that are described in our Annual Report on Form 10-K that was filed on April 25, 2013 with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained. We undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.