Wireless infrastructure company WPCS International Inc. announced that it will acquire ATC International Holdings Inc. for $2.45 million in cash plus additional unspecified payouts if the company meets earnings targets over the two-year period following the deal’s closing.
Miami-based ATC specializes in the design and deployment of wireless products and security systems, and also has an office in El Salvador through which it services customers in Central America. ATC is expected to earn about $9.5 million in revenue this year, with earnings before interest and taxes of $900,000.
“The acquisition of ATC . brings WPCS into the fast-growth security market. In addition, it will establish operations for us in Central America, which will further expand our global capacity,” said Andrew Hidalgo, WPCS chairman and CEO.
The deal is expected to close within the next 60 days.
WPCS picks up ATC International for $2.45M
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