TORONTO — Avante Logixx Inc. has closed its previously reported acquisition of all of the issued and outstanding shares of Intelligarde International Inc.
As announced, Avante purchased Intelligarde for $4.75 million using a mix of cash on hand and its recently announced acquisition facility to fund the transaction.
“I am very pleased to close this transaction and officially welcome the Intelligarde team to the Avante platform,” said Craig Campbell, CEO of Avante, in a prepared statement. “With Intelligarde under the Avante platform we intend to execute on our strategic plan of accelerating our position as a leading technology-enabled security solutions provider to large national accounts.”
As a result of the closing of the transaction, Intelligarde has become a wholly-owned subsidiary of Avante.