Digital Dispatch Systems Inc., a developer of dispatch applications and hardware for taxi fleets, has signed a letter of intent to acquire Maddocks Systems Inc., developer of truck fleet management software. The non-binding letter of intent released in July calls for the acquisition to be completed on Aug. 31.
Digital Dispatch will pay $10 million for the privately held Maddocks Systems, which says it has installed its TruckMate for Windows system in over 400 fleets.
In a public letter to fleet customers, Maddocks founder, president and CEO Robert Maddocks said combined revenues for the two companies would exceed $40 million. While Digital Dispatch designs and manufactures its own wireless communications systems, Maddocks said the company would continue to support Qualcomm, PeopleNet, Aether Systems, AirIQ, FleetMind, Cancom and other wireless providers used by its fleet customers.
