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February 19, 2013
07:17 EDTNMRXNumerex acquires certain assets, technology, intellectual property for $3.9M
Numerex announced the acquisition of certain assets, technology, and intellectual property - including a portfolio of patents - that will support and widen its M2M platform capabilities in real-time monitoring of critical assets and events. Although the acquisition of assets includes an active base of customers that currently generate recurring revenue, its financial impact will be modest during 2013. Total consideration for the purchase, as previously disclosed, was $3.9M that was allocated about evenly between goodwill and intangible assets. As a result, amortization charges will approximate $90,000 in the fourth quarter 2012 and $400,000 for the full year 2013. Fourth quarter general and administration expense will include an estimated $50,000 of acquisition-related costs. In addition, there will be $15,000 in interest charges included in the fourth quarter of last year and it is expected that $60,000 in annual interest charges will be incurred in 2013, as a result of the transaction structure that included approximately $2M in seller-financing.
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