MARKHAM, ONTARIO and SANDEFJORD, NORWAY — (Marketwire) — 02/07/13 — 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.
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.
About Enghouse Systems Limited
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. Enghouse shares are listed on the Toronto Stock Exchange (TSX: ESL). Further information about Enghouse may be obtained from its website at .
About Locus Holding AS
Established in 1991, Locus is a leading provider of fleet management solutions for the Public Safety and Transportation & Logistics sectors in the Scandinavian market. The company operates out of offices in Norway, Sweden and Denmark. For more information, please visit .
Contacts:
Enghouse Systems Limited
Sam Anidjar
Vice President, Corporate Development
(905) 946-3302
Locus Holdings AS
Arne Harry Pettersen
CEO
(+47) 33 48 42 00
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