BOS Announces Closing of the Acquisition of the Assets of Imdecol Ltd.
June 03 2019 - 8:30AM
B.O.S. Better Online Solutions Ltd. ("BOS" or the "Company")
(NASDAQ: BOSC), a leading Israeli integrator of RFID and Mobile
solutions and a global provider of Supply Chain solutions to
enterprises, announced today that it has completed its acquisition
of the assets of Imdecol Ltd. (www.imdecol.com), a global
integrator and manufacturer of automatic and robotic systems
that enhance the productivity of production lines.
Eyal Cohen, BOS Co-CEO and CFO stated, "We’re very
pleased to have closed this transformative acquisition. We believe
Imdecol’s advanced technology will provide us with new capabilities
to significantly enhance our product offering, mainly in the
manufacturing segment. We believe that demand for robotic systems
is growing globally and we intend to target these international
markets."
Yuval Viner, BOS Co-CEO commented, "Imdecol’s annual revenues in
the years 2017-2018 averaged $5.7 million, of which 45% was from
customers outside of Israel, mainly Australia, New Zealand and
America. We plan to grow Imdecol’s revenues both globally and
locally through increased investment in sales and marketing. This
will include appointing new sales representatives in new and
existing territories and utilizing the RFID and Mobile division’s
sales force to expand our presence in the Israeli market."
For more information:
Investor Relations Contact: John Nesbett IMS
Investor Relations(203) 972-9200 jnesbett@institutionalms.com |
Company ContactEyal Cohen, Co-CEO &
CFOBOS+972-542525925eyalc@boscom.com |
About BOS B.O.S. Better Online Solutions
Ltd. (BOSC) is a leading Israeli provider of RFID and Mobile
solutions and a global provider of Supply Chain solutions to
enterprises. BOS' RFID and Mobile division offers both turnkey
integration services as well as stand-alone products, including
best-of-breed RFID and AIDC hardware and communications equipment,
BOS middleware and industry-specific software applications. The
Company's Supply Chain division provides electronic components
consolidation services to the aerospace, defense, medical and
telecommunications industries as well as to enterprise customers
worldwide. For more information, please
visit: www.boscorporate.com.
Safe Harbor Regarding Forward-Looking
Statements
The forward-looking statements contained herein
reflect management's current views with respect to future events
and financial performance. These forward-looking statements are
subject to certain risks and uncertainties that could cause the
actual results to differ materially from those in the
forward-looking statements, all of which are difficult to predict
and many of which are beyond the control of BOS. These risk
factors and uncertainties include, amongst others, the dependency
of sales being generated from one or few major customers, the
uncertainty of BOS being able to maintain current gross profit
margins, inability to keep up or ahead of technology and to succeed
in a highly competitive industry, inability to maintain marketing
and distribution arrangements and to expand our overseas markets,
uncertainty with respect to the prospects of legal claims against
BOS, the effect of exchange rate fluctuations, general worldwide
economic conditions and continued availability of financing for
working capital purposes and to refinance outstanding indebtedness;
risks associated with completing and successfully integrating an
acquisition with BOS’s existing business; and additional risks and
uncertainties detailed in BOS' periodic reports and registration
statements filed with the U.S. Securities and Exchange Commission.
BOS undertakes no obligation to publicly update or revise any such
forward-looking statements to reflect any change in its
expectations or in events, conditions or circumstances on which any
such statements may be based, or that may affect the likelihood
that actual results will differ from those set forth in the
forward-looking statements.
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