Beijing BDStar Navigation Co., Ltd. (北京北斗星通导航技术股份有限公司) (SHE: 002151), through BDStar Investments (Canada) Co., Ltd., has agreed to acquire Rx Networks Inc. for $31 million in cash, payable $24.8 million at closing, and the remaining $6.2 million two years following the closing.
Rx Networks’s indoor location business, under Fathom Systems Inc., is not included in the acquisition.
Following the closing of the acquisition, BDStar will invest additional $10 million in Rx Network to improve location.io real-time GNSS ephemeris service and location.io predicted GNSS ephemeris service offerings.
Founded in 2002, Rx Networks has raised $7.5 million from British Columbia Discovery Fund (VCC) Inc. (BCDF), VOXX International (NASDAQ: VOXX), TELUS Ventures, Texas Instruments.
photo credit: Rx Networks