In September of 2000, Applied Digital Solutions acquired Destron Fearing
Corporation and merged it into its Digital Angel subsidiary.
Corporation has been in the animal identification business since 1945.
The deployment of Applied Digital's advanced wireless solutions for Destron Fearing and its Fortune 500 customers will draw on Applied Digital's established expertise in the e-business mobile sector.
Under the new wireless program, Destron Fearing would continue deploying electronic microchip technology and radio frequency identification (RFID) scanning.
Under the merger agreement executed by the parties on April 25, 2000, Applied Digital Solutions will acquire Destron Fearing in a tax-free exchange of common stock.
Under the terms of the amendment, Destron Fearing stockholders will receive 1.
The terms of the agreement require Applied Digital Solutions to acquire all of the outstanding capital stock of Destron Fearing
with newly-issued shares of Applied Digital Solutions' common stock in a transaction that is expected to be tax-free to shareholders.
NASDAQ:ADSX) today announced that it has signed a letter of intent to acquire Destron Fearing
Corporation (NASDAQ:DFCO), a leading developer, manufacturer and marketer of a broad line of electronic and visual identification devices for companion animals, livestock, laboratory animals, fish and wildlife.
Corporation (Nasdaq: DFCO) today announced that it has signed a letter of intent to be acquired by Applied Digital Solutions, Inc.