Source: Market Wire
Enghouse Systems Limited (TSX:ESL) announced today it has signed a definitive agreement to acquire Locus Holding AS (“Locus”) for a purchase price of approximately $14 million, subject to certain price adjustments. Locus’s annual revenues for fiscal 2012 were approximately $18 million. Completion of the acquisition is subject to regulatory approval and customary closing conditions and is anticipated to close within fiscal Q2, 2013.
Enghouse Systems Limited is a leading global provider of enterprise software solutions serving a variety of vertical markets. Its strategy is to build a large diverse enterprise software company through strategic acquisitions and managed growth.
Headquartered in Sandefjord, Norway, Locus is a leading supplier of fleet management solutions for the Public Safety and Transport & Logistics (including Security) sectors in the Scandinavian market. Locus has a dominant position in the Norwegian Public Safety sector. Its products are installed in police cars, ambulances, rescue helicopters and fire brigades. Locus’s transportation, logistics and M2M products are also well established in these markets. EOC Partners has acted as financial advisors for Locus.
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The Regional Municipality of York is located in the heart of the Greater Toronto Area and is home to 1.1 million residents and 42,000 business establishments, making it one of Canada’s largest municipalities and the second largest business centre in the Province of Ontario.
Comprised of nine local municipalities, York Region is a premier business location in Canada. The Region is home to operations of 14 Fortune 100 companies, four of Canada’s top 10 corporate R&D investors, Canada’s second largest Information & Communications Technology (ICT) cluster and global industry leaders in Life Sciences, CleanTech, Financial Services and Advanced Manufacturing.
As Canada’s fastest growing large municipality, York Region has one of the most educated and diverse workforces in North America, the lowest commercial property taxes in greater Toronto and an exceptional quality of life attracting top global talent.
York Region’s local municipalities include the City of Markham, the City of Vaughan, the Town of Richmond Hill, the Town of Newmarket, the Town of Aurora, the Town of Whitchurch-Stouffville, the Town of East Gwillimbury, the Town of Georgina and the Township of King.