XPEL, Inc. acquired Veloce Innovation Inc. for $1.4 million.
January 10, 2021
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XPEL, Inc. (NasdaqCM:XPEL) acquired Veloce Innovation Inc. for $1.4 million on December 31, 2020. Under the transaction, XPEL, Inc. will acquire certain assets of Veloce Innovation. XPEL also incurred contingent liabilities in relation to the acquisition of Veloce Innovation. The payment of these liabilities is contingent on attainment of certain revenue performance metrics in future years.
XPEL, Inc. (NasdaqCM:XPEL) completed the acquisition of Veloce Innovation Inc. on December 31, 2020.
XPEL, Inc. is a provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and architectural window films, and ceramic coatings. The Company also provides installation services for its products through multiple channels. Paint protection film, its flagship product, is a self-adhesive, clear film designed to be applied to painted surfaces of automobiles and other surfaces. It sells several lines of automotive window films, primarily under the XPEL PRIME brand name. It sells architectural glass solutions for commercial and residential buildings under the VISION brand name, representing its product set with a fully non-automotive use. Its architectural window films come in several categories, including solar, safety and security, and other. It sells a hydrophobic, self-cleaning coating that can be applied to a variety of surface types for automobiles, aircraft and marine applications. It offers a Design Access Platform.
XPEL, INC. 
