BALTIMORE, MD--(Marketwire -06/07/12)- View Systems, Inc. (VSYM), a security and tele-data solutions provider, announced today that a Purchase Agreement has been executed between View Systems and Essential Security Group, stating that View Systems will acquire ESG under a stock exchange agreement. This agreement will allow a partnership to commence, thereby bringing the resources of ESG's management team to View, and authorized distribution rights of View's technology to ESG.
Essential Security Group was founded in Toledo, Ohio in February, 2007. While their core business is servicing the Ohio-Michigan-Indiana tri-state region, they have seen exceptional growth on a national level as well, with successful installations across the United States. ESG's management team consists of leaders from diverse fields of the security industry who offer outstanding knowledge of the latest industry technologies, and deliver the performance and support that their customers have come to expect. ESG is dedicated to providing knowledgeable support and timely service; the company's mission can be summarized in one key phrase, "Expect to be impressed." (Source: www.essential-esg.com).
Dave Loyer, President of ESG states, "We are excited about the potential of this partnership with such a well respected company. Our first priority will be to complete the installation of 60 ViewScan units in the Detroit Public School system. As we make progress, on the agenda are a multitude of installations in the tri-state area including several critical Homeland Security projects which we expect to announce in the coming months ahead. We have ongoing projects with: Comerica Park, Quicken Loans HQ, Little Caesars, Detroit Port Authority, City of Detroit, Several Steel Corp., FOX, Ford Field and the Michigan State Police."
Dr. Martin Maassen, Chairman of View Systems, states, "The acquisition of ESG will allow us to capitalize on specific strengths of both companies in order to build a larger and more lucrative entity. This acquisition gives us the ability to double our overall revenue to over Two Million Dollars in the near future. The combination of our cutting-edge security screening technology and ESG's installation/product integration background has the potential to propel us to the forefront of the security marketplace. We are looking forward to executing on the combined company's growth potential that this acquisition clearly brings. Acquisitions of this nature are in line with our 'roll-up' growth strategy and we look forward to additional acquisitions in the future."
About View Systems: View Systems, Inc. manufactures and installs weapons detection identification systems, video management platforms and tele-data communication networks targeted towards correctional facilities, schools, courthouses, government agencies, event and sports venues, and commercial businesses.
Forward-Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.