[10/31/11]
Posera - HDX Limited recently announced that it has completed the sale to an undisclosed buyer of its wholly owned subsidiary Dexit Inc. which owns the legacy Dexit radio frequency identification device business (the "Dexit RFID Business") for a purchase price of $2,000,000, subject to potential post-closing adjustments.
About the Posera - HDX Limited Company
The Company is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.
The Company's leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and "line buster" mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
The Company develops, deploys, and supports a restaurant point-of-sale software know as "Maitre'D" which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells to and services its clients directly, as well as through a network of approximately 112 value added reseller partners in 25 countries with approximately 1,100 representatives selling, supporting & installing its software. The Company employs approximately 130 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.
On October 7, 2011 the Company completed a reorganization by way of a plan of arrangement which resulted in all of the assets and liabilities of the predecessor company Posera-HDX Inc. (which was then renamed Dexit Inc.), except the Dexit RFID Business assets and liabilities and certain other assets, being transferred to Posera-HDX Limited which is continuing the business of the Company.
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