An unknown buyer acquired Telit Modular Distribution Agreement and Associated Assets from Direct Communication Solutions, Inc. for $0.25 million.
October 10, 2019
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An unknown buyer acquired Telit Modular Distribution Agreement and Associated Assets from Direct Communication Solutions, Inc. for $0.25 million in January 2019. Direct Communication Solutions will receive $250,000 cash based on certain milestones plus 6% of net sales of Telit products through December 31, 2019. Consideration of $150,000 was payable at closing and the second payment of $100,000 was payable following Direct Communication Solutions introductions to customers and Telit’s sales directors; and delivery and payment of at least 50% of purchase order by a prior customer of Direct Communication Solutions for Telit hardware.
An unknown buyer completed the acquisition of Telit Modular Distribution Agreement and Associated Assets from Direct Communication Solutions, Inc. for $0.25 million in January 2019.
Direct Communication Solutions, Inc. is a technology solutions integrator focusing on connecting to the Internet of Things (IoT). The Companyâs software applications and scalable cloud services collect and assess business-critical data from all types of assets. The Companyâs software-as-a-service (SaaS) solutions include MiFleet, which provides fleet and vehicle SaaS telematics; MiSensors, which provides machine-to-machine device management and service enablement for wireless sensors; and MiFailover, which provides high-speed wireless Internet failover to small and medium-sized businesses as a redundancy solution to continue to run their business in the event the Internet is not available. In addition, the Company has deployed MiConnectivity to provide wireless data connectivity for global connectivity through its fully integrated SIM management platform and MiServices to provide managed services solution that includes an all-inclusive device readiness program and engineering support.