Europe News: Trakm8 acquires P J Soft

Europe News:  Trakm8 acquires P J Soft

Trakm8 has acquired the entire issued share capital of P J Soft for €0.5 million.

Based in Prague, Czech Republic, PJ Soft is a software research and development company specialising in the provision of cartographic mapping application software.

The total consideration for the acquisition of PJ Soft comprises €535,000 in cash and 793,652 new ordinary shares in Trakm8, giving an implied value of €900,358. The cash element is payable in two stages: €385,000 immediately and €150,000 twelve months after the closing of the transaction.

Trakm8 currently licences geo-positioning software from PJ Soft for use in its vehicle tracking and vehicle security applications. In the year-ended March 2007, Trakm8 paid £11,200 to P J Soft in licensing fees.

This acquisition brings in-house the remaining software IP not owned by the company. PJ Soft has also developed advanced cartographic and geo-positioning software that Trakm8 believes will allow it to considerably strengthen its current solutions portfolio. The company also intends to develop new products utilising this advanced software.

PJ Soft’s location in Prague has enabled Trakm8 to achieve a cost effective European presence, while the addition of a strong software development team should lead to faster R&D programs.

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