ComCam International has entered into a Letter of Intent to acquire all of the issued shares of 1st Choice Security Solutions of Georgia (1st Choice), a OEM supplier of ultra-long range RFID technology in a stock and cash transaction expected to close June 2011. On completion of the transaction 1st Choice will become a wholly owned subsidiary of ComCam.
ComCam International has entered into a Letter of Intent to acquire all of the issued shares of 1st Choice Security Solutions of Georgia (1st Choice), a OEM supplier of ultra-long range RFID technology in a stock and cash transaction expected to close June 2011. On completion of the transaction 1st Choice will become a wholly owned subsidiary of ComCam.
"We have worked with Pete Martin of 1st Choice for many years on fusing video and RFID. 1st Choice expertise in RFID applications makes them a valuable addition to our business. The combination of our products and RFID technology make it cost effective to deploy a comprehensive remote operations management solution like our joint venture with the School of Franchise and Business Development launched by serial entrepreneur Joe Bisogno of Kansas City," said Don Gilbreath, CEO, ComCam.
1st Choice President Pete Martin stated, "The ability to add the ComCam wireless video capabilities to our RFID products will provide our security and supply chain integrators the capability to supply solutions never available before and give them a substantial edge over their competitors,” said Pete Martin, President, 1st Choice.