In an effort to expand upon the current market penetration
of its ViewScan weapons detection system, View Systems, Inc. (OTC: VSYM) is in
ongoing discussions with three firms regarding the potential of a future
acquisition or merger. According to a recent press release, the company has
received a letter of intent from multiple candidates, with the latest coming
from a profitable, privately owned business with annual revenue of $7 million.
“We are actively reviewing [merger and acquisition]
candidates and are working through careful due diligence with each company in
consideration,” Gunther Than, chief executive officer of View Systems, stated
in a news release. “Finding and moving forward with an M&A isn’t an exit
from our current focus of operations, but rather a strategic path toward larger
market penetration with our ViewScan product.”
The company’s management team has continued to highlight the
importance of shareholder interest throughout its merger and acquisition
discussions. Following thorough due diligence, it was decided that the
previously announced merger with Potomac River Group LLC (PRG) would “take away
from the impact… expected from an ideal merger/acquisition partner.”
“We are highly focused on acquiring or merging with someone
to take ViewScan to [a] higher level, but we do so while keeping shareholder
interest at the absolute forefront of our progression,” continued Than.
While View Systems continues to search for a partner, the
company remains diligent in its efforts to increase shareholder value through
the installation of its proprietary ViewScan systems. In June, the company
highlighted this progress through a news release detailing recent installations
in banks, police stations and schools throughout Michigan, Texas and
California. This expanding national presence should give the company improved
access to the massive global security industry, which has been one of the
fastest-growing sectors of the global economy for nearly a decade. By
leveraging the advantages that the ViewScan system boasts over ordinary metal
detectors – including accelerated threat detection, reduced false positives and
facial identification capabilities – View Systems is in a favorable strategic
position to build on its recent growth moving forward.
For prospective investors, the diligence shown by the
company’s management team is a promising indication of its strong market potential.
Look for View Systems to continue leaning on this expertise in order to
maximize shareholder value in the months to come. As the search for an ideal
merger/acquisition partner continues, the overall marketability and expanding
industry presence of the innovative ViewScan system should provide a platform
for sustainable financial growth.
For more information, visit www.viewsystems.com
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