TORONTO, Oct. 21 /CNW/ - Hosted Data Transaction Solutions Inc. ("HDX"), a leading provider of touch screen POS solutions, payment solutions, and enterprise management tools, today announced that it has signed a letter of intent to acquire A&A Ltd. ("A&A") of Ottawa, Ontario. The terms of the agreement were not disclosed.
HDX is listed on the TSX under the symbol "HDX".
A&A, established in 1993, is a profitable Ottawa based point-of-sale technology company specializing in solutions for the quick service restaurant and fine dining industry. A&A provides systems and services to approximately eight hundred merchants including Compass Group Canada Ltd., Club Links, Aramark, East Side Mario's, Subway, Burger King, KFC, City of Ottawa, Ottawa Hospitals, Lone Star Texas Grill and Wendy's.
"We are very pleased to announce the agreement with A&A" says Paul Howell, president and CEO of HDX. "A&A's wide base of merchants in Ottawa and the surrounding area provides an excellent source of potential customers for HDX's point of sale solutions, payment solutions, business intelligence tools, and enterprise management solutions".
The transaction is expected to close on November 1st 2009 and is subject to completion of due diligence by HDX, customary closing conditions, receipt of all necessary regulatory approvals and the negotiation and execution of a definitive purchase and sale agreement.
About the Company
Hosted Data Transaction Solutions Inc. is in the business of managing merchant transactions with consumers and facilitating payment. HDX develops and deploys touch screen POS 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.
HDX 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.
The Company offers a complete suite of products and solutions for merchants. HDX develops, sells, deploys, and supports touch screen POS systems for quick service restaurants, integrated RFID gift card payment systems, self serve customer kiosks, mobile wireless POS terminals, fine dining / table service POS systems, integrated digital video surveillance and recording systems, electronic cash registers, and web enabled business intelligence applications.
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect HDX's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Annual Information Form filed on March 30, 2009 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless required by security regulation.
SOURCE HOSTED DATA TRANSACTION SOLUTIONS INC.
For further information: For further information: Paul Howell, President/CEO, Hosted Data Transaction Solutions Inc. (HDX), Tel: (416) 703-6462, extension 2263, Email: email@example.com