Numerex Completes Omnilink Acquisition
ATLANTA, May 6, 2014 (GLOBE NEWSWIRE) -- Numerex Corp (Nasdaq:NMRX) a leading
provider of on-demand and interactive machine-to-machine (M2M) enterprise
solutions announced today that it has completed the previously announced
acquisition of Omnilink Systems Inc., an award-winning M2M company providing
reliable and intuitive tracking and monitoring solutions to businesses,
consumers, and government agencies. This acquisition will enable Numerex® to
expand its position in the fast-growing security and safety, tracking and
monitoring market segments.
The purchase price was $37.5 million in cash, subject to the adjustments set
forth in the merger agreement. The transaction was funded through cash-on-hand
and a $25 million term loan provided by Silicon Valley Bank.
The transaction is expected to be accretive to the Company's non-GAAP earnings
per share in 2014 and beyond, and to significantly improve its competitive
position, while enabling a number of synergistic growth opportunities in the
commercial, government, and consumer markets.
Track and monitor people and things brilliantly with the world's most reliable
and intuitive solutions, powered by Omnilink.Omnilink's award-winning M2M
platform connects hardware, networks, software, and support services to bring
end-to-end solutions to life. Since 2004, global brands, U.S. government
agencies, businesses, and consumers have used Omnilink to monitor the
location, safety, and condition of vehicles, assets, offenders, loved ones,
fleets, employees and more. For more information, visit www.Omnilink.com.
Numerex Corp. (Nasdaq:NMRX) is a leading provider of interactive and on-demand
machine-to-machine (M2M) enterprise solutions. The Company provides its
technology and services throughits integrated M2M horizontal platforms, which
are generallysoldon a subscription basis. The Company offers Numerex DNA®
that may include hardware and smartDevices, cellular and
satelliteNetworkservices, and software Applicationsthat are delivered
through Numerex FAST® (Foundation Application Software Technology). The
Company also provides business services to enable the development of
efficient, reliable, and secure solutions while accelerating deployment.
Numerex is ISO 27001 information security-certified, highlighting the
Company's focus on M2M data security, service reliability and around-the-clock
support of its customers' M2M solutions. For additional information, please
This press release contains, and other statements may contain, forward-looking
statements with respect to Numerex future financial or business performance,
conditions or strategies and other financial and business matters, including
expectations regarding growth trends and activities. Forward-looking
statements are typically identified by words or phrases such as "believe,"
"expect," "anticipate," "intend," "estimate," "assume," "strategy," "plan,"
"outlook," "outcome," "continue," "remain," "trend," and variations of such
words and similar expressions, or future or conditional verbs such as "will,"
"would," "should," "could," "may," or similar expressions. Numerex cautions
that these forward-looking statements are subject to numerous assumptions,
risks and uncertainties, which change over time. These forward-looking
statements speak only as of the date of this press release, and Numerex
assumes no duty to update forward-looking statements. Actual results could
differ materially from those anticipated in these forward-looking statements
and future results could differ materially from historical performance.
The following factors, among others, could cause actual results to differ
materially from forward-looking statements or historical performance: the
risks and uncertainties related to our ability to successfully integrate the
operations, products and employees of Omnilink; the effect of the merger on
relationships with customers, vendors and lenders; our inability to capture
greater recurring subscription revenues; the risks that a substantial portion
of revenues derived fromcontracts may be terminatedat any time; the risks
that our strategic suppliers materially change or disrupt the flow of products
or services; variations in quarterly operating results; delays in the
development, introduction, integration and marketing of new products and
services; customer acceptance of services; economic conditions resulting in
decreased demand for our products and services; the risk that our strategic
alliances, partnerships and/or wireless network operators will not yield
substantial revenues; changes in financial and capital markets, and the
inability to raise growth capital; the inability to attain revenue and
earnings growth; changes in interest rates; inflation; the introduction,
withdrawal, success and timing of business initiatives and strategies;
competitive conditions; the inability to realize revenue enhancements;
disruption in key supplier relationships and/or related services; and extent
and timing of technological changes. Numerex SEC reports identify additional
factors that can affect forward-looking statements.
© 2014 Numerex Corp. All rights reserved. Numerex, the Numerex logo and all
other marks contained herein are trademarks of Numerex Corp. and/or
Numerex-affiliated companies. All other marks contained herein are the
property of their respective owners.
CONTACT: Numerex Contact:
Numerex IR Contact:
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