Federal Signals acquires Sirit

Monday, 18 January, 2010 (Age: 230 days)

Sirit, a leading provider of radio frequency identification technology and Federal Signal Corporation, a leader in environmental, safety and transportation solutions, have announced that they have signed a definitive agreement whereby Federal Signal will acquire all of the issued and outstanding common shares of Sirit.

The CDN$0.30 per share cash purchase price represents a premium of 37% over Sirit’s 30-day average closing stock price and a premium of 60% over Sirit’s 60-day average closing stock price. Sirit is a leading designer, developer and manufacturer of RFID technology for applications such as Tolling, Electronic Vehicle Registration, Parking and Access Control, Asset Management, Cashless Payments and Supply Chain Systems. The combination of Sirit’s RFID technology with Federal Signal’s detection and classification technology and existing PIPS automated license plate recognition technology, immediately transforms Federal Signal into a leader in Intelligent Transport Systems.

Category: RFID, Data Collection