Carl Data To Acquire Astra Smart Systems

Carl Data Solutions Inc. entered into a securities exchange agreement with Astra Smart Systems Corp. on June 8, 2018.

Astra manufactures Industrial Internet of Things (IIoT) devices and runs a data centre that can host over 1,000 servers. Several high profit margin Data Hosting, Data Processing, Data Analytics and Software as a Service (SaaS) contracts that generate monthly reoccurring revenue are also serviced by Astra.

Greg Johnston, Carl Data’s president and CEO, commented “Astra is a fast growing, well-managed company with technology that is very complementary to our products. Our business plan was always to supplement organic growth by acquiring innovative companies and help accelerate their expansion. Astra is a great example of a purchase that allows us to quickly bring our technology into new verticals where the target company is already established.”

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Pursuant to the agreement, Carl Data has agreed to acquire all of the issued and outstanding shares of Astra from its shareholders for total consideration of (i) 9.3 million common shares in the capital of the company (about C$1.58 million at 17 cents per share), (ii) the payment of an aggregate of $300,000 in cash to the shareholders within 30 days of closing and (iii) the payment of an aggregate of $300,000 in cash to the shareholders within six months of closing.

Astra is creating environmental monitoring sensors and devices for the IIoT, while developing complementary data-centric software. Its data hosting centre takes advantage of affordable leasing and industry incentives, such as subsidized power and human resources.

By bringing to market fully integrated end-to-end (E2E) environmental monitoring solutions for problems such as air quality, flooding and drought, Astra and Carl Data expect to continue expanding across further industrial verticals and emerging markets.

Pilar Portela, founder and CEO of Astra, is expected to continue with her role and assist with the transition for one year following completion of the acquisition.

“Astra’s annual potential earnings have been carefully orchestrated through its various revenue streams,” Portela said. “Focused on the three bases of E2E services for Industrial IoT clients, being Data Acquisition, Data Processing and Data Analytics, Astra builds products that help our clients augment their business intelligence capacity. From safety and environmental sensors to process analytics and data modeling, Astra has grown through a profitable model almost from day one.”

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