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WebTech Wireless Inc. Completes Acquisition of Grey Island Systems International Inc.
WebTech Wireless Inc. (TSX:WEW), a leading global telematics and location-based services provider, completed its acquisition of Grey Island Systems International Inc. (TSX:GIS), a provider of custom real-time GPS/AVL, security and telematics solutions and real-time passenger information systems. WebTech acquired all of the issued and outstanding shares of Grey Island by way of a plan of arrangement in exchange for 31,333,364 common shares of WebTech, for a transaction value of approximately C$34.5 million.
Wildeboer Dellelce LLP acted as counsel to the Special Committee of Grey Island, with a team that included Vaughn MacLellan and Mark Wilson.
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