Global Digital Solutions, Inc.
777 South Flagler Dr., Suite 800 West Tower
West Palm Beach, FL 33401
Global Digital Solutions, Inc. (GDSI) Completes Acquisition of North American Specialty Vehicles, LLC (NACSV) – Leading Builder of Mobile Command/Communications and Specialty Vehicles for Emergency Management, First Responders, National Security and Law Enforcement Operations
PALM BEACH, Fla., June 18, 2014 /PRNewswire/ -
In 2013, NACSV generated revenue of $6.2 million and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of $1.06 million and has an expected revenue run rate of between $12 million and $14 million and expected EBITDA of between $2.1 million and $2.4 million by December 31, 2014.
“We’re delighted to announce the acquisition of NACSV,” said GDSI’s President and CEO Richard J. Sullivan. “NACSV is a well-
On June 16, 2014, GDSI’s wholly owned subsidiary, GDSI Acquisition Corporation, entered into an Equity Purchase Agreement with the members of NACSV to acquire their interests in NACSV in consideration for $1 million in cash and 645,161 shares of GDSI’s restricted common stock at closing on June 16, 2014 and up to an additional $2.4 million of contingent consideration, payable either in shares of GDSI’s common stock, or in cash, through December 31, 2017, as certain milestones and targets are met.
About North American Custom Specialty Vehicles, LLC
NACSV specializes in building mobile command/communications and specialty vehicles for emergency management, first responders, national security and law enforcement operations.
These specialty vehicles include:
For more information about NACSV, visit www.NACSVehicles.com.
About Global Digital Solutions, Inc.
Global Digital Solutions is positioning itself as a leader in providing cyber arms manufacturing and complementary security and technology solutions. For more information please visit http://www.gdsi.co.
Forward Looking Statements
This press release contains “forward looking statements”. The statements contained in this press release that are not purely historical are forward-
Richard J. Sullivan