Carl Data completes acquisition of Astra Smart Systems

Carl Data Solutions (CSE:CRL, FSE:7C5) announced that it has completed the acquisition of Astra Smart Systems pursuant to securities exchange agreement dated June 8, 2018 among Carl Data, Astra and Astra’s shareholders.

As quoted in the press release:

Astra manufactures Industrial Internet of Things (IIoT) devices and runs a data center 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, which is now a wholly-owned subsidiary of Carl Data. Pilar Portela, founder and CEO of Astra has also agreed to continue with her role and assist with the transition for one year.

In connection with the Acquisition, Carl Data: (i) issued an aggregate of 9,300,000 common shares in the capital of the Company (approximately $1,581,000 CAD at $0.17 per share) to the Shareholders no later than two business days prior to the thirtieth day following closing and (ii) has agreed to pay an aggregate of $300,000 in cash to the Shareholders within thirty days of closing and (iii) has agreed to pay an aggregate of $300,000 in cash to the Shareholders within six months of closing.

Greg Johnston, Carl Data’s President and CEO, commented, “During our due diligence, Astra’s team impressed us with their knowledge of the expanding markets for Industrial IoT environmental monitoring. Our combined lines of sensor, software and data management tools will allow us to sell industrial grade end-to-end (E2E) solutions to help predict damage from things like flooding, forest fires and drought. We expect to scale up quickly with our new sensor manufacturing and assembly capabilities, and one-megawatt data center.”

Investors interested in learning more about the Astra Acquisition and Carl Data Solutions can register for the upcoming first Carl Data live Q&A session. Greg Johnston and Carl Data CFO, Alastair Brownlow, will give a brief presentation about the technical and financial trajectory of the Company, and answer questions from participants.

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