The initial consideration for PositiveID's acquisition of MFSI was USD1.
MFSI has reportedly received over USD45m in government contracts, the majority of which have come from the Department of Homeland Security.
CRISIL believes that MFSI will improve its business performance, driven by increasing demand from the automotive OEMs, steady demand from the aftermarket, and revenues from its new units in Parwanoo and Chennai.
MFSI is a joint venture (JV) between the Anand group and the Germany-based Mahle group.
Mahle Filters was merged with Purolator with effect from April 1, 2007, to form MFSI.
At the end of this year, MFSI will introduce SonicPoint wireless access points in all its branches to enable secure, distributed wireless connectivity.
For MFSI to maintain productivity, IT support is vital, and North Shore Data Services, Inc.
The CFC agreement also gives MFSI access to cross marketing opportunities in CFC's wide range of print publications.
Under the agreement, CFC will license to MFSI original daily news and commentary on financial markets and trends, making available its vast resources of reporters, brokerage reports, financial news feeds, and the Trustnet Web site.
We are confident that our extensive Internet media contacts and experience will help MFSI
to take maximum advantage of all of these opportunities".
The acquisition will provide MFSI proprietary technology and expertise to drive its online financial publishing subsidiary and Investor Relations, MicroCap1000.
Closing of the transaction between MFSI and CyberJunction is subject to the execution of a definitive agreement and the receipt of financial statements acceptable to MFSI from CyberJunction.