Carl Data Officially Completes Astra Smart Systems Acquisition

Vancouver-based Carl Data Solutions (CSE:CRL) announced that it has officially completed the acquisition of Astra Smart Systems.

Tuesday’s (June 19) announcement follows the company’s earlier reports of the company’s signing a letter of intent (LOI) made May 1 and finally a statement made June 11 of Carl Data announcing its intentions to acquiret Astra Smart Systems.

Carl Data Solutions offers data collection, storage and analytics solutions while Astra manufactures Industrial Internet of Things (IIoT) devices and runs a data center that can host over 1,000 servers.

“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,” Greg Johnston, president of Carl Data said in the press release. “We expect to scale up quickly with our new sensor manufacturing and assembly capabilities, and one-megawatt data center.”

Carl Data issued in connection with the acquisition an aggregate of 9,300,000 common shares in capital of the company that are valued at CS$1.5 million to the shareholders and has agreed to pay an aggregate of CS$300,000 in cash to the shareholders no later than two business days prior to the 30th day following closing.  

Further, Carl Data said that it has agreed to pay an aggregate of CS$300,000 in cash to the shareholders within six months of closing.

It was noted that Astra, which is now a wholly owned subsidiary of Carl Data, services several high profit margin data hosting, data processing, data analytics and Software as a Service (SaaS) contracts.

Johnston said at the time of signing the LOI that he he expects Astra’s revenue to ‘quickly grow beyond the $115,000 per month’ it was generating.

“We are really excited to team up with Carl Data,”  Pilar Portela, CEO of Astra said in the release. “This partnership will present a stronger E2E solution that will benefit all of our clients and bridge the IIoT software and hardware markets by providing integrated solutions.”

Following the announcement, Carl Data was up 3.45 percent over the one day trading period and closed the trading on Tuesday at C$0.15. The stock had a volume of 36,000 on Tuesday.

Don’t forget to follow us @INN_Technology for real-time news updates!

Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.