אנו שמחים להודיע על השלמת הרכישה של חברותiDnext ו- Next-Line
RISHON LEZION, Israel, Nov. 30, 2015 (GLOBE NEWSWIRE) -- B.O.S. Better Online Solutions Ltd. (the "Company", "BOS") (Nasdaq:BOSC), a leading Israeli provider of RFID and Supply Chain solutions to global enterprises, announced today that its RFID and Mobile division, through its wholly owned subsidiary, BOS-Dimex Ltd. ("Dimex") has signed a definitive agreement for the acquisition of the business operations of iDnext Ltd. ("iDnext") and its subsidiary Next-Line Ltd. (“Next-Line”). The parties expect to consummate the transaction in January 2016.
iDnext, incorporated in 1997, is a private Israeli company that specializes in Automatic Identification and Data Capture ("AIDC") through barcode and RFID technology, mainly for libraries.
Next-Line, incorporated in 2008, specializes in providing on-site inventory count services mainly to leading retail chains in Israel in the fields of apparel, food, convenience and pharma. Next-Line also provides asset tagging and counting services for corporate and governmental entities. With its experienced team and proprietary software, Next-Line is able to quickly and accurately count inventory with minimum shutdown time.
As reported by the Company on September 8, 2015, Dimex intends to acquire the business operation of iDnext and Next-Line in consideration for cash and BOS ordinary shares. The consideration will include an initial payment of NIS 1.6 million (approximately $411,000) paid in cash and NIS 1.3 million (approximately $334,000) paid by the issuance of 162,734 BOS ordinary shares (representing approximately 7% of BOS outstanding shares). Dimex shall make additional payments based on the annual operational profit of the acquired business in the calendar years 2016 and 2017. Closing of the transaction is subject to satisfaction of certain closing conditions.
Yuval Viner, CEO of BOS said: “With the signing of the definitive agreement we are moving towards the closing of the acquisition. At closing, Moti Harel and Eran Harel, the founders of iDnext and Next-Line shall join the management of our Mobile and RFID division. Mr. Moti Harel shall also be appointed to the Company's Board of Directors."
Moti Harel and Eran Harel, CEO and CTO of iDnext and Next-Line stated: "We look forward to working together with BOS towards integration of the acquired business and the success of the BOS group."
Eyal Cohen, CFO of BOS, stated: "As previously noted, we anticipate that the acquisition of iDnext and Next-Line would positively impact our profits, commencing year 2016. In 2014, iDnext and Next-Line generated revenues (unaudited) of $1.5 million and an operating profit (unaudited) of $250,000."