Exchange Income Corporation completes acquisition of CarteNav Solutions

Exchange Income Corporation, a diversified, acquisition-oriented company, has successfully closed the acquisition of all of the issued and outstanding shares of CarteNav Solutions for a purchase price of up to CAD$17.0m which is subject to an earn-out provision and customary post-closing adjustments. CarteNav, headquartered in Halifax, Nova Scotia, is a leading software developer providing intelligence, surveillance, reconnaissance (“ISR”) and situational awareness software solutions for the maritime, land, and air environments to defense, security, and commercial clients. Its flagship product, AIMS-ISR has become the software of choice for both government and non-government customers in more than 30 countries across six continents.