QUES and BCS Close Their Merger Deal
Quest Solution, Inc. and Bar Code Specialties, Inc. Deal Closes Accretive Merger to Add Revenue and Income to 4th Quarter Results
Henderson, NV (PRWEB) November 25, 2014
Quest Solution, Inc, ("The Company"
(OTCBB: QUES), is pleased to announce it has completed the transaction previously announced with privately held Bar Code Specialties, Inc. (BCS). The accretive transaction was announced last week, but final paperwork and closing conditions were completed last Friday.
Concurrent with the transaction, the Company is updating the Investor Presentation from September 2014 which when completed will be available at http://www.QuestSolution.com/investors
As the financials for BCS are finalized for the respective periods and the related pro forma financial statements are filed with the SEC, the presentation will be updated further.
As previously announced, the BCS shareholder will receive a subordinated promissory note, which may be converted into QUES common stock at $2 per share. David Marin, the sole shareholder and founder of BCS, will remain with the Company. No shares are being issued in conjunction with this transaction, but the Company will issue stock options to purchase up to 2,500,000 shares of the Company's common stock to Mr. Marin, which options will vest upon reaching certain milestones based on the duration of his continued service with the Company and revenue achievements.
The Company previously announced the addition of Scot Ross to its senior management team as the Company’s Chief Financial Officer and Secretary, which was effective on November 20, 2014.
“I am pleased this transaction has now been completed. Ever since we started discussing the potential synergies, we have mapped out the strategies we believe will maximize shareholder value, earnings per share, and synergies for both of our companies,” stated Scot Ross, Chief Financial Officer, Quest Solutions. “With the robust suite of products that BCS offers in addition to the normal AIDC services, we anticipate this will be a great value added addition for the Quest Solution, Inc. sales team.”
Full details of the transaction are to be filed with the SEC in a Form 8-K within 4 business days.
For more information on BCS please visit http://www.BCSSolutions.com
For more information http://www.QuestSolution.com
About Quest Solution, Inc.:
Quest Solution, Inc. is a leading provider in the technology, software, and mobile data collection systems business. The Company intends to continue to acquire existing companies with revenues and positive cash flow.
Quest Solution, Inc. serves as a national mobility systems integrator with a focus on design, delivery, deployment and support of fully integrated mobile solutions. The Company takes a consultative approach by offering end to end solutions that include hardware, software, communications and full lifecycle management services. The highly tenured team of professionals simplifies the integration process and delivers proven problem solving solutions backed by numerous customer references.
The BCS acquisition is in addition to the recently announced creation of a wholly-owned division focused on commercializing Intellectual Property, Patents and Distribution of industry-specific technologies in an array of new verticals. The new division will focus on the acquisition of existing intangibles, which we anticipate will provide immediate value to the company.
Quest Solution, Inc. and Bar Code Specialties, Inc. Deal Closes Accretive Merger to Add Revenue and Income to 4th Quarter Results
Henderson, NV (PRWEB) November 25, 2014
Quest Solution, Inc, ("The Company"
(OTCBB: QUES), is pleased to announce it has completed the transaction previously announced with privately held Bar Code Specialties, Inc. (BCS). The accretive transaction was announced last week, but final paperwork and closing conditions were completed last Friday. Concurrent with the transaction, the Company is updating the Investor Presentation from September 2014 which when completed will be available at http://www.QuestSolution.com/investors
As the financials for BCS are finalized for the respective periods and the related pro forma financial statements are filed with the SEC, the presentation will be updated further.
As previously announced, the BCS shareholder will receive a subordinated promissory note, which may be converted into QUES common stock at $2 per share. David Marin, the sole shareholder and founder of BCS, will remain with the Company. No shares are being issued in conjunction with this transaction, but the Company will issue stock options to purchase up to 2,500,000 shares of the Company's common stock to Mr. Marin, which options will vest upon reaching certain milestones based on the duration of his continued service with the Company and revenue achievements.
The Company previously announced the addition of Scot Ross to its senior management team as the Company’s Chief Financial Officer and Secretary, which was effective on November 20, 2014.
“I am pleased this transaction has now been completed. Ever since we started discussing the potential synergies, we have mapped out the strategies we believe will maximize shareholder value, earnings per share, and synergies for both of our companies,” stated Scot Ross, Chief Financial Officer, Quest Solutions. “With the robust suite of products that BCS offers in addition to the normal AIDC services, we anticipate this will be a great value added addition for the Quest Solution, Inc. sales team.”
Full details of the transaction are to be filed with the SEC in a Form 8-K within 4 business days.
For more information on BCS please visit http://www.BCSSolutions.com
For more information http://www.QuestSolution.com
About Quest Solution, Inc.:
Quest Solution, Inc. is a leading provider in the technology, software, and mobile data collection systems business. The Company intends to continue to acquire existing companies with revenues and positive cash flow.
Quest Solution, Inc. serves as a national mobility systems integrator with a focus on design, delivery, deployment and support of fully integrated mobile solutions. The Company takes a consultative approach by offering end to end solutions that include hardware, software, communications and full lifecycle management services. The highly tenured team of professionals simplifies the integration process and delivers proven problem solving solutions backed by numerous customer references.
The BCS acquisition is in addition to the recently announced creation of a wholly-owned division focused on commercializing Intellectual Property, Patents and Distribution of industry-specific technologies in an array of new verticals. The new division will focus on the acquisition of existing intangibles, which we anticipate will provide immediate value to the company.
