BDStar to acquire Rx Networks for $31M

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

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.