Acquisition Announcement

42Square, a leading software consulting firm based in Infopark, Kochi, announced its acquisition by Wavetronix LLC, a world leader in intelligent traffic solutions headquartered in Utah. This strategic acquisition marks a pivotal moment in Wavetronix's expansion strategy, enabling the company to diversify its offerings beyond the realm of intelligent traffic solutions. The details of the transaction remain undisclosed.

42Square's team is set to join forces with Wavetronix, steering the company towards realizing its vision of diversification. This partnership has culminated in the establishment of FortyTwo Square Solutions Pvt Ltd, a new Wavetronix subsidiary in India, which commenced operations in Infopark, Kochi on April 1st. The co-founders of 42Square, Vincent N P, Jijo Joy, Suhair Hassan, and Rijo George, have joined the board of directors of the new entity, alongside Wavetronix's executive leadership, to guide the strategic direction of this venture.

Wavetronix has committed to significant investment over the next five years to expand the subsidiary's workforce, who will focus on developing both traffic-related products and exploring new technological avenues. This acquisition will significantly contribute to job creation in Kochi and positively impact the Indian manufacturing sector as Wavetronix intends to establish an electronic manufacturing facility in the region.

Quotes from 42Square Co-Founders

"For several years, 42Square has provided expert product architecture and solution services to clients across the United States and Europe. Our collaboration with Wavetronix over the past three years has been extraordinarily fruitful. We are delighted to join Wavetronix and are optimistic about our collective future endeavors." - Vincent, Co-founder of 42Square
"These are exciting times. We had always aimed at building a fun-filled and innovative environment where people come together and create value. Seeing our company evolve in this way is both a proud and humbling experience. It's a reflection of the countless milestones we've achieved and the challenges we've overcome. Merging with Wavetronix is both a validation of our past efforts and a promise of future potential" - Rijo, Co-founder of 42Square
"The collaboration between 42Square and Wavetronix is a significant milestone, born out of shared visions and years of dedication. It is an honor to bring our team's expertise to a partnership that promises not only to innovate but also to inspire" - Suhair, Co-founder of 42Square
"We are profoundly grateful for the opportunity to join forces with Wavetronix, a union that represents not just a strategic alignment of our businesses but a shared commitment to innovation and excellence." - Jijo, Co-founder of 42Square

Quote from Wavetronix Founder

"The incorporation of 42Square into Wavetronix significantly enhances our capabilities within the intelligent traffic solutions domain and supports our diversification strategy. Our investment in our Indian subsidiary underscores our commitment to developing innovative products and offering our team members rewarding and challenging career opportunities." - David, Founder of Wavetronix

About 42Square

42Square is a cutting-edge offshore software development firm, specializing in comprehensive software engineering and digital product development. With a rich history of working across various domains, our team is adept at delivering scalable and efficient solutions, helping clients navigate the complexities of product development and deployment.

About Wavetronix

Wavetronix is a global innovator in traffic management solutions, known for its advanced radar technology that offers unparalleled performance. Wavetronix's mission is to improve traffic flow and safety on roads worldwide. Committed to fostering rewarding careers and personal growth, Wavetronix places a strong emphasis on people, aiming to create the best traffic detection technologies while supporting the development of its team.

Forward-Looking Statements

This press release contains forward-looking statements regarding future operations and performance of 42Square and Wavetronix LLC, which are based on current expectations, forecasts, and assumptions. These statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those projected.