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Friday, May 20, 2011 3:59:42 PM
DecisionPoint Reverse Merger Granted Canadian Court Approval
DecisionPoint Systems, Inc. (OTCBB: DNPI), a leading provider of Enterprise Mobility and RFID solutions, today announced that the Ontario Superior Court of Justice has granted approval for the closing of the merger between DecisionPoint and Comamtech Inc. The transaction will be completed by the end of this month.
"This is a great transaction for the shareholders of DecisionPoint and Comamtech," said Nicholas Toms, Chief Executive Officer of DecisionPoint. "The merger provides us with a solid balance sheet and an improved platform to execute on our strategy of complementing organic growth with select acquisitions. Further, the merger serves as a building block for a Nasdaq Capital Market listing application. The financial foundation of the combined company will be stronger with reduced balance sheet risk and lower debt."
For additional details on the reverse merger agreement, please refer to the formal announcement made on October 20, 2010.
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