Crescendo Partners on board with Geotab purchase of BSM
Geotab Inc has agreed to acquire the issued and outstanding common shares it does not already own of BSM Technologies Inc (TSX: GPS), a Toronto-based provider of GPS telematics and asset management solutions. Geotab agreed to pay $1.40 per share, which represents an equity value of about $117.3 million. The deal is expected to close in Q2 2019. BSM shareholders holding or controlling about 23 percent of outstanding shares have agreed to vote for the transaction. They include U.S. hedge fund Crescendo Partners and Canadian mutual fund company Penderfund Capital Management. Based in Oakville, Ontario, Geotab is a provider of fleet management software and GPS vehicle tracking devices.
9 April 2019•7 mins read
