Numerex acquires AVIDwireless
Feb 22, 2013 (M2 EQUITYBITES via COMTEX) --
Numerex Corp (Nasdaq:NMRX), a provider of on-demand and interactive machine-to-machine (M2M) enterprise solutions, announced on Thursday the purchase of the assets and business of AVIDwireless, including intellectual property and know-how.
Financial details of the purchase were not disclosed.
These assets and IP purchased are expected to support the development of Numerex next-generation M2M platforms and managed services. In addition to intellectual property and know-how, the company also received AVIDwireless' product lines, certain prior art and several customer contracts.
According to the company, the acquisition of AVIDwireless will have minimal financial impact on it in the first year of operations.
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