– @Road, a provider of mobile resource management (MRM) services, and Vidus Limited, a provider of dynamic field service automation solutions, announced on December 15 that they have signed a definitive agreement providing for the acquisition of Vidus by @Road.
The planned acquisition of Vidus positions @Road to:
Integrate technology for dynamic scheduling, dispatching, routing, and appointment booking of mobile workers.
Expand business to Europe and other international markets.
Use software sales and installations to drive new services and subscriptions to a worldwide market.
Cross-sell the companies´ solutions as well as further develop the combined technologies to provide customers with integrated services.
Further penetrate key vertical markets, including utilities, telco and cable and broadband markets.
Access to large enterprise customer prospects.
The transaction has been unanimously approved by the boards of directors of both companies and is subject to customary closing conditions, including the acceptance of the exchange by the holders of Vidus common shares. Holders of approximately 94 percent of the outstanding Vidus common shares have agreed to exchange their Vidus common shares in the exchange offer. The transaction is expected to close in the first quarter 2005.
Upon completion of the acquisition, Vidus will become a wholly owned subsidiary of @Road, and will remain located in its current headquarters in Ipswich, United Kingdom. @Road intends to operate Vidus as a division of the company.