Dexit Reviews Strategic Options, Cuts Staff, Locations
Toronto-based Dexit has announced (PDF) that it has formed a Special Committee of the Board "in response to overtures from several potential strategic investment partners" to review strategic options. Dexit also has implemented an "optimization plan" that includes reducing staff from 55 to under 30 as well as scaling back the number of locations at which the Dexit Service is available in the Toronto area. The Dexit Service "enables consumers to pay for a variety of low-cost items quickly and conveniently with the tap of a RFID (radio frequency identification) tag linked to a pre-paid account."
"The Company launched the Dexit Service in September 2003 and has now successfully proven the reliability and scalability of the technology" said John McBride, CEO of Dexit. "Dexit clearly has world-class technology and we believe this initiative will enable the company to realize higher value for its significant technology investment to date and focus our people and financial resources on key opportunities."
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