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[December 12, 2012]
Bartronics Asia acquires 51% stake in Systems America
Dec 12, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Bartronics Asia, Pte., Ltd., a Singapore-based 100% subsidiary of Bartronics India Limited, has acquired a 51% stake in Systems America, Inc. (SYAI), a US-based provider of business process and information technology outsourcing and systems and integration services.
Bartronics is engaged in providing solutions using automatic identification and data collection (AIDC) technologies.
In consideration of swap of shareholding, Bartronics America Inc. is now owned by SYAI.
Prior to the transaction, Bartronics America was renamed to mCloud, Inc. to reflect its diversification into mobile and cloud computing businesses.
Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2012-12-11 Deal Participants Target (Company) Systems America, Inc.
Acquirer (Company) Bartronics Asia Pte., Ltd.
Deal Rationale According to Bartronics, the transaction is in line with its stated growth strategy and expected to result in greater efficiencies and increased market share.
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