Meridex Software Corporation announced today its acquisition of the Calgoo Software - a privately-owned provider of in-calendar marketing solutions - for consideration of $175K paid in common shares of Meridex Software (TSX:MSC). The shares will be subject to a 4 month hold period expiring June 23, 2009 and the transaction is subject to TSX approval.
"I am pleased with our latest acquisition," said Darren Nicholls, President and CEO, Meridex Software Corporation. "By utilizing the synergies of these two exciting lines of business we are now in a very strong position to bring in additional funding, and create great results for our shareholders. We have assembled a team of the best people in their respective fields. With expertise in software, emergency management for schools and calendar inter-operability, we have all the key components to succeed in the rapidly changing and fast growing software-as-a-service market."
Meridex Software Corporation provides software solutions for emergency management and calendar inter-operability - so this acquisition appears to be a great fit.
Word on the street is that Calgoo has raised over $1 Million in Angel money since being launched in January 2006. $175K in stock is a far cry from that amount but with Meridex shares trading at 1 cent today there is no where to go but up with a 52-week high of 12 cents.