Why GeneSYS ID Inc (OTCMKTS:GNID) Shares Dipped 6% on Friday

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GeneSYS ID Inc (OTCMKTS:GNID) shares were down 6.67% to $0.0140 on Friday and flat in after-hours trading. The company has a market cap of $134,017.00 at 13.05 million shares outstanding. Share prices have been trading in a 52-week range of $0.01 to $7.20.

GeneSYS ID Inc is a company that offers various secure fingerprint products and solutions for both the professional and consumer healthcare markets. Formerly known as RX Safes, Inc, it develops, designs, manufactures and sells finger print activated medication safes and other healthcare storage equipment, on top of offering autonomous fingerprint medical security solutions for controlled substances.

These products and technologies address the economic and social impacts of drug diversion, unauthorized access to medications, prescription drug abuse and poor medication adherence. GeneSYS ID Inc also  offers its fingerprint interface as a solution for customers to license and integrate into their own products, jointly develops products with original equipment manufacturer partners to deliver security and accountability to their existing product offerings, and offers customized end user add-on solutions for healthcare facilities, among others. It has Rx DrugSAFE Pro, Rx DrugSAFE IC, and other products in the pipeline.

Last month, GeneSYS ID Inc shared its plans to buy Interactive Intelligence for $1.4 billion. This company is a global leader of cloud and on-premise solutions for customer engagement, communications and collaboration, which would make a good match for GeneSYS ID Inc in terms of powering the world’s best customer experiences at scale, anytime, anywhere – over any channel, in the cloud and on-premise.

The deal would give Interactive Intelligence shareholders $60.50 per share in cash through a transaction that is expected to close by the end of the year. GeneSYS ID Inc plans to fund this through a combination of existing cash on hand and debt financing. In addition, committed debt financing will be provided by Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs and RBC Capital Markets.

 

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