Trafficmaster has acquired Fleet Management Solutions, a provider of satellite-based tracking solutions, for an initial $6.9m cash and $0.35m in shares plus up to $6.0m based on performance.
California-based FMS recorded a loss before tax of $1.6m in 2008. For 2009, revenue is expected to be $5.7m, with an additional $2.2m contracted order back-log not yet installed.
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