TORONTO, Feb. 19 /CNW/ - Hosted Data Transaction Solutions Inc. ("HDX")
announced today that it completed the previously announced acquisition of
The purchase price of $1.25 million, subject to certain post-closing
adjustments, consisted of $850,000 in cash and $400,000 in common shares of
HDX, at a price of $1.00 per common share for a total of 400,000 common shares
which will be subject to a 36 month hold period. No financing was required for
this transaction and the parties to the transaction are at arms length.
HDX (formerly Dexit Inc.) manages merchant transactions with consumers by
providing point of sale solutions and services, payment solutions and
services, and enterprise management solutions and services. HDX is listed on
the TSX under the symbol HDX.
Sabrepoint, established in 1992, is a Mississauga based point of sale
technology company with historical annual revenue of approximately
$2.5 Million. HDX recently announced the acquisition of Howell Data Systems
QSR and Biz-Pro Ltd. The historical annual revenue of these three companies
combined is approximately $10 million.
Specializing in solutions for the quick service restaurant and fine
dining industry, Sabrepoint has sixteen employees and provides systems and
services to hundreds of customers including Tim Hortons, Copps Coliseum,
Sodexho, and Tony Romas.
"The completion of the Sabrepoint acquisition brings our team to sixty
five members and demonstrates progress towards our goal of building a
significant organization with a large and diverse merchant base." says Paul
Howell, president and CEO of HDX. "The Sabrepoint team is very experienced and
well respected in our industry and our customers have responded to the news of
this merger with great enthusiasm. With the synergies and economies gained, we
look forward to offering our integrated RFID payment solutions, self serve
customer kiosks, and hosted business intelligence solutions to a wider scope
of new customers. Our growing service team will be kept very busy supporting
and enhancing the systems of merchants already utilizing our traditional
Rad Bazzul, VP of Sales and Sal Ignozza, Customer Service Manager will
manage the day to day operation of the Sabrepoint organization moving forward.
"This is very positive news for both our client base and our team," says
Rad Bazzul. "This partnership gives Sabrepoint the enterprise management tools
that we have wanted to offer to our large client base for quite some time."
"The larger service and support team gives our company the geographical
coverage and technical abilities that our customers demand," says Sal Ignozza.
"I am pleased that we will be able to continue to offer great after-hours
support with a larger team which is good news for our hard working team
About the Company
HDX manages merchant transactions with consumers and facilitates payment.
HDX develops and deploys touch screen POS (point of sale) system software and
associated enterprise management tools and has developed and deployed numerous
POS applications. HDX also provides system hardware integration services,
merchant staff training, system installation services, and post sale software
and hardware support services.
Leading edge technology also includes customer self serve kiosks and
"line buster" mobile point of sale terminals. These products have been
designed to dramatically enhance customer throughput and drastically reduce
customer queues. These technologies are especially effective in high foot
traffic environments that have limited cash register counter space, limited
retail square footage, and the absence of a drive through.
HDX pioneered an "instead of cash"(R) electronic based payment
facilitation service. The Dexit(R) Service can be private branded for a
specific merchant and enables customers to pay for items quickly and
conveniently with the tap of a RFID (radio frequency identification) tag
linked to a pre-paid account. This Dexit Service payment solution is
especially well suited for corporate and institutional cafeteria environments
where hundreds of customers purchase and pay for meals in compressed periods
throughout the business day.
(R) Registered trade-mark of Hosted Data Transaction Solutions Inc.
To find out more about Hosted Data Transaction Solutions Inc., visit our
website at www.dexit.com. To find out more about Sabrepoint, visit
Sabrepoint's website at www.Sabrepointinc.com
For further information:
For further information: Paul Howell, President, CEO, Hosted Data
Transaction Solutions Inc., (416) 703-6462, extension 263