AI assistant
DATADOT TECHNOLOGY LIMITED — Capital/Financing Update 2013
Oct 14, 2013
64764_rns_2013-10-14_b0da5dcf-e6d7-4e57-8c6c-eca5b8f7b7d2.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [266 x 110] intentionally omitted <==
DataDot Technology Limited ABN 54 091 908 726
Securities Exchange Announcement
15[th] October 2013
’ - Acquisition of JV Partner s Half share of DataDot Security Solutions Inc
The Directors of DataDot Technology Limited (ASX:DDT) announce that an agreement has been executed with DataDot Dealer Services LLC (DDDS) to acquire its half-share of DataDot Security Solutions Inc (DDSS). The acquisition will transfer to wholly-owned subsidiary DataDot Technology USA Inc (DDUSA) the 50%share in DDSS not already owned by DDUSA, so making DDSS a wholly-owned subsidiary of DDT.
DDSS is the entity responsible for the CopDots program and provision of DataDot product to customers of the National Metals Register operated by Verisk Analytics Inc in the US.
The acquisition has been undertaken to gain greater exposure to both these businesses in the US which DDT believes hold good prospects for growth going forward.
The shares were transferred for a nominal consideration and on the basis that DDT will repay loan funds advanced to DDSS by DDDS.
DDDS will continue as DDT’s exclusive distributor in the US auto warranty aftermarket, auto OEM and home security services sectors.
Contact Information:
DataDot Technology Limited
Bruce Rathie, Executive Chairman Phone: 02 - 89774900 e-mail: [email protected] web site: www.datadotdna.com
==> picture [424 x 27] intentionally omitted <==