Quarterhill Acquires Red Fox I.D. Limited

March 15, 2024

Quarterhill Inc. has entered into a definitive agreement to acquire all outstanding shares of Red Fox I.D. Limited, a UK-based provider of Automatic Vehicle Detection and Classification (AVDC) software for the tolling industry, for up to US$10.2 million in cash and equity. Quarterhill expects the acquisition to close around April 1, 2024, to expand its software capabilities and accelerate growth in higher-margin software sales; Red Fox is expected to generate approximately US$1.4 million of annualized adjusted EBITDA in 2024 and the deal is expected to be immediately accretive.

Buyers
Quarterhill Inc.
Targets
Red Fox I.D. Limited
Industry
Transportation
Location
England, United Kingdom
Transaction Type
Buyout

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