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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