Barcoding, Inc. entered into a definitive agreement to acquire DecisionPoint Systems, Inc. for $81.6 million.
May 30, 2024
Share
Barcoding, Inc. entered into a definitive agreement to acquire DecisionPoint Systems, Inc. (NYSEAM:DPSI) for $81.6 million on April 30, 2024. Under the terms of the agreement, DecisionPoint stockholders will receive $10.22 per share in cash. Barcoding Holdings, LLC, a portfolio company of Graham Partners will acquire DecisionPoint Systems in an all-cash transaction. Upon completion of the transaction, DecisionPoint will become a privately held company and its stock will no longer be publicly traded. Graham Partners will fund the transaction. The Company will continue to operate under the DecisionPoint Systems name and brand. If the agreement is terminated by DecisionPoint, it is required to pay termination fee of $2.6 million to Barcoding and if the merger agreement is terminated by Barcoding, it is required to pay termination fee of $5.2 million to DecisionPoint.
The transaction subject to the approval of DecisionPoint stockholders, the absence of any statute, rule, regulation, order, or other legal or regulatory restraint which has the effect of preventing, prohibiting or rendering illegal the consummation of the Merger and the satisfaction of customary closing conditions. Closing of the transaction is not subject to a financing condition. DecisionPoint?s board of directors unanimously approved the merger agreement and recommended that stockholders vote in favor of the merger. Board of directors of Barcoding approved the transaction. Barcoding shareholders approved the transaction. The transaction is currently expected to close in July 2024.
Craig-Hallum Capital Group LLC acted as finance advisor and delivered a fairness opinion to DecisionPoint?s board of directors with respect to the proposed transaction; and Donald E. Figliulo and Kevin L. Vold of Polsinelli PC and Cole Schotz P.C. are serving as legal counsel. Jeffrey Legath, Stephanie Haas, lon Goldberger, Ani Ravi, Richard Horvath, Andrew Braid, Joshua Rawson and Joshua Milgrim of Dechert LLP is acting as legal counsel to Barcoding and its sponsor, Graham Partners.
DecisionPoint Systems, Inc. is a mobility-first enterprise services and solutions company. The Company delivers mobility-first managed services, in-store retail solutions centered around point-of-sale technologies, deployment, integration and support services to retail, supply chain, hospitality, healthcare and other verticals. It also provides a comprehensive managed services portfolio that includes consulting, integration, project management, software development, deployment, and life cycle management services. Those services include configuration, repair services, help desks, and implementation services desks, helping its enterprise customers operationalize their mobile investments. It also provides deployment and installation services into the retail POS marketplace. Its ViziTrace Platform provides its customers with the ability to integrate radio frequency identification (RFID) technologies into existing workflows, making them efficient and effective in the marketplace.
DECISIONPOINT SYSTEMS, INC. 
