Maddocks Says DDS Deal on Track to Close in Sept.
ob Maddocks, president of Software vendor Maddocks Systems, told Transport Topics he expected his company’s acquisition by Digital Dispatch Systems to go through as planned by Sept. 17.
The companies, both based near Vancouver, British Columbia, had announced the deal July 6. Under its terms, publicly traded DDS would acquire Maddocks for C$9 million, about $6.75 million, at the deal’s closing, plus about C$1 million in employee retention bonuses to be paid over three years.
Maddocks said in a July 23 interview that his company, which he founded in 1981, would continue to operate with its existing staff and leadership under DDS.