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Dauphin Completes Acquisition Of EDC Hellas
Palatine IL (SPX) Jul 21, 2004 Dauphin Technology announced Tuesday that it has completed its stock purchase agreement and has acquired controlling interest of EDC Hellas S.A., a subsidiary of the Belgium-based European Datacomm Holding, a global leader in marketing and manufacturing of Tracking, Telematics and Satellite Communications products and services. Through its network of subsidiaries and affiliates in over 70 countries, European Datacomm Holding provides solutions for the maritime, automotive and military sectors. Its subsidiary, EDC Hellas S.A., is a leader in the field of Automotive Telematics and related Value Added Services in Greece and the Balkans, marketing its corporate brand product EDC-TRACK, a Pan-European safety and security platform for mobile and fixed asset monitoring. In addition, EDC Hellas S.A. is the exclusive distributor for Greece and Cyprus of the VIASAT line of products, which is the number-one selling system in Europe for driver safety and security. Dauphin Technology has acquired a 51% interest in EDC Hellas S.A. (EDC-H), in exchange of 1.5 Million newly issued Common Shares of Dauphin Technology, Inc. (Dauphin), as previously reported on July 7, 2004. Post closing with EDC-H, Dauphin's current partners are EDC-Belgium, owning a 35% interest, and EDC-H president Evangelos Alexandris holding the remaining 14%. EDC-H and Dauphin Hellas S.A. are currently in the process of consolidating their operations into EDC-H's facility in order to optimise running expenses and benefit from shared management. "With the closing of EDC Hellas completed, the launch of our newly adopted business plan is officially underway. Looking ahead to our closing with Sanyo Hellas Holding S.A. this quarter, at which time, Dauphin will be in the position to report consolidated results from these acquisitions," comments Mr. Andrew Kandalepas, CEO & Chairman of Dauphin Technology, Inc. "We are happy to be a part of this new Dauphin family that combines synergies for the benefit of all. This type of a business structure is designed to link subsidiaries and mother companies into common opportunities. Dauphin Hellas S.A., with EDC Hellas S.A., as well as EDC-Belgium with Sanyo Hellas Holding can open doors for each other," adds Mr. Evangelos Alexandris, president of EDC Hellas S.A. Community Email This Article Comment On This Article Related Links Dauphin Technology EDC Telematics SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Stratos Steps Closer To Xantic Acquisition
Bethesda MD (SPX) Jan 5, 2006Stratos Global recently announced it had taken a step closer toward the completion of the acquisition of Xantic, having received positive advice from the Works' Council in the Netherlands, and executed a definitive agreement to purchase Xantic from KPN and Telstra Corporation. |
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