Image Sensing Systems buys UK-based firm for $8M



By Sam Black, Minneapolis-St.Paul Business Journal

Image Sensing Systems Inc. has acquired CitySync  Ltd., a privately-held British developer and marketer of automatic license plate recognition technology.

St. Paul-based Image Sensing Systems paid $7.9 million in cash and 57,000 restricted shares of Image Sensing Systems’ common stock, valued at $727,000 for the company. CitySync’s former owners could earn an additional $2 million or more based on revenue and gross margin performance, according to a press release.”

Read More…