- Plurilock Security (PLUR) subsidiary Aurora Systems Consulting has signed an asset purchase agreement to acquire certain assets of Atrion Communications
- The total consideration payable by the company to Atrion is US$3,700,000
- This transaction will not affect the management team at Atrion
- Atrion is a full life-cycle network infrastructure and security solutions provider
- Plurilock provides identity-centric cybersecurity company
- Plurilock Security Inc. was up 4.167 per cent, trading at C$0.25 at 11:34 AM ET
Plurilock Security (PLUR) subsidiary Aurora Systems Consulting has signed an asset purchase agreement to acquire certain assets of Atrion Communications.
For its fiscal year ended March 31, 2022, Atrion generated approximately US$14.0 million in revenue with a gross profit of $3.3 million and EBITDA of $533,300.
This transaction will not affect the management team at Atrion.
The acquisition is expected to equip Atrion to further serve customers with leading-edge cybersecurity solutions and expand its footprint in the public and private sectors.
In addition, this transaction enables Plurilock to expand its geographic footprint, facilitate access and ongoing growth opportunities and expand its East Coast-American operations.
“The transaction represents our third acquisition as a public company and serves as another milestone in our mission to acquire accretive cybersecurity and IT assets with great customers, capabilities, and distribution channels where we can cross sell our high-margin solutions to deliver economies of scale,” noted Ian L. Paterson, CEO of Plurilock.
“Atrion is very excited to join the Plurilock and Aurora family as it offers us the opportunity to continue working with our longtime customers and the valuable relationships we’ve cultivated over 37+ years in business,” said Dominic Grillo, President of Atrion Communications, Inc.
On August 8, 2022, Plurilock and Aurora entered into the purchase agreement with Atrion and a certain vendor of Atrion.
In line with the terms of the purchase agreement, the total consideration payable by the company to Atrion is US$3,700,000.
Atrion is a full life-cycle network infrastructure and security solutions provider, supporting the end-to-end implementation of technology solutions for various organizations to manage technical environments to maximize IT investment and minimize risk.
Plurilock provides identity-centric cybersecurity company.
Plurilock Security Inc. was up 4.167 per cent, trading at C$0.25 at 11:34 AM ET.