Information systems firm Guardian Technologies has completed its acquisition of Corsham, U.K.-based RIS provider Wise Systems, according to the Dulles, VA-based vendor.
Under the terms of a stock purchase agreement, Guardian acquired all of Wise's stock from the firm's two shareholders, Martin Richards and Susan Richards, for an aggregate $1.9 million in cash and shares of its common stock in the amount of $500,000. Guardian has formed a wholly owned subsidiary, UK Guardian Healthcare Systems, which will own Wise Systems and oversee all of its product development and sales.
Martin Richards has also agreed to serve as vice president of European operations for Guardian for two years. Wise's current staff will continue to work out of the Corsham, Wiltshire U.K. offices, Guardian said.
By AuntMinnie.com staff writersJuly 28, 2004
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