WPCS International, a design-build engineering company that focuses on the implementation requirements of wireless technology, has announced that it has completed the acquisition of James Design of Brisbane, Australia.
Historically profitable, James Design is projected to achieve approximately $1.7 million in revenue and $600,000 in earnings before interest and taxes for their current fiscal year ending December 31, 2007. WPCS acquired 100% of James Design for $1.2 million in cash at closing.
Andrew Hidalgo, CEO of WPCS International, said: We are pleased to conclude the James Design acquisition as it now establishes operations for WPCS in Australia. We believe that there are many opportunities to provide our complete scope of communication infrastructure services in the fast growth Australian market and we will focus on expanding our presence in the months ahead.