Press Release – New York, NY – January 25, 2018 – Securities and corporate law firm Sichenzia Ross Ference Kesner LLP is pleased to announce that the firm has represented Teamtronics, Inc., a manufacturer of portable, rugged computerized equipment for industrial and field automation in its acquisition of High-Tech Solutions’ Automotive Pattern Recognition (“HTS-APR”) business. The acquisition includes all applicable assets including the intellectual property and customer base. The purchase price was approximately $4.0 million.
HTS-APR is a technological world leader in computer vision image processing based solutions for Automatic Number Plate and Vehicle Recognition (ANPR) for Security, Traffic Management, Parking Management, Law Enforcement, Electronic Toll Collection & Enforcement, Surveillance and Access Control.
With thousands of installations in more than 17 countries, HTS-APR’s groundbreaking solutions are trusted by the most demanding and discerning customers including: the Brookhaven National Laboratory for access control, Boston’s Logan Airport for increased throughput during pre-flight applications, the U.S. Department of Transportation readers at the US/Mexico border crossing, as well as many Las Vegas Hotels for automatic parking charge processing. HTS-APR also installed specialty recognition equipment in sensitive zones in the Middle East for government security clients. This technology can also be implemented for autonomous vehicle command and control applications.
Joseph Gunnar & Co. LLC acted as the advisor to Teamtronics for the related financing.
[starbox id=1]
