ATLANTA-Wireless machine-to-machine vendor Numerex Corp. announced it acquired Airdesk Inc., which produces digital M2M products including radio modules.
The companies said the deal is worth around $4 million, with an additional $1.5 million in the form of an earn-out. Numerex said it plans to issue up to 350,000 shares over three years to pay for the acquisition.
Airdesk reported revenues of about $12 million last year.
“The wireless M2M market is poised for substantial growth in 2006 and beyond,” said Stratton Nicolaides, chairman and chief executive of Numerex. “We are at a turning point in the M2M space where promise is now reality, due in large part to the growth of the advanced data communications capabilities. We are leveraging that capability with added dales, support, advanced network services and a vision for growth to deliver proven, revenue-generating solutions for all customers.”
Airdesk’s president, Michael Lang, will serve as senior vice president of sales at Numerex.
The companies said integration of the two businesses is set to begin immediately.
