Wireless Data Solutions Inc. Tuesday announced that the company has signed a letter of intent and has entered into negotiations to acquire B Squared Software Inc. of Huntington Beach, Calif.
B Squared Software Inc. designs, implements and maintains information systems for industrial automation and test and measurement markets. B Squared’s information systems create “virtual instruments” capable of conducting data collection, data distribution or process control effectively reducing operating costs and improve product quality.
Mike McLaughlin, Wireless Data’s president and CEO, commented: “We are very excited about the potential of B Squared Software Inc. They have an excellent management team, outstanding technical expertise and although a relatively young company, they are already profitable with projections of over $4 million for fiscal year 1998. Some of their clients include impressive names such as Warner Bros., Texaco, RCA, AirTouch Cellular, Beckman Instruments and Rockwell International. After our meetings this past week we feel that the hardware capabilities of Wireless Data Solutions, and the software capabilities of B Squared combined, could potentially double our current revenue projections beginning fiscal 1998 and beyond.”
Wireless Data Solutions Inc. designs and markets digital communications equipment and software systems for vehicle fleet management through its wholly owned subsidiary Dinet. Its hardware products are known as mobile data terminals called Data Mates; these units send and receive real-time information to and from a base station. Options include Automatic Vehicle Location (AVL) using GPS technology with the company’s mapping software, Cellular Digital Packet Data (CDPD), onsite Credit Card readers and others.
Visit their web site @ [www.virtualir.com/solu].
Statements in this press release about the company’s negotiations are “forward-looking statements” within the meaning of Sections 27A and 21E of the Securities Act of 1933 and 1934. The company intends that such “forward-looking statements” be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties, such as the outcome of negotiations and revenue projections, the results could differ materially from those expected.