GDSI said that terms of the transaction with North American Custom Specialty Vehicles, involves $1 million in cash and 645,161 shares of GDSI's restricted common stock. It also involves an additional $2.4 million of contingent consideration, payable either in shares of GDSI's common stock or cash at the end of the year.
"We're delighted to announce the acquisition of NACSV," said GDSI President and Chief Executive Officer Richard J. Sullivan. "NACSV is a well-respected builder of security and crisis management-related specialty vehicles. Very importantly, NACSV has an established client base and a skilled management team.
"The company's advanced command and control and emergency communications capabilities fit perfectly into GDSI's global growth strategy. We're looking forward to working together with the NACSV team in the months ahead."
Global Digital Solutions Inc. describes itself a company "positioning itself as a leader in providing cyber arms manufacturing and complementary security and technology solutions."