Global ePoint to acquire Tops Digital Security
CITY OF INDUSTRY, Calif.--Global ePoint, a manufacturer of digital video surveillance solutions, has agreed to acquire Tops Digital Security, a provider of high-end enterprise surveillance systems based in Ontario, Calif. Tops will receive 625,000 shares of Global stock, valued at $4 per share, for a total purchase price of $2.5 million. Tops has the potential to earn additional shares by meeting earning goals. Currently, Tops projects $8 million in revenues for the next year.
In a statement, Global chief executive officer Toresa Lou said the Tops customer base, which includes the J. Paul Getty Museum, San Diego SeaWorld and a number of casinos, "represents a key element in our plan to develop a complete line of secured network digital video technology and products for growing vertical markets in the electronic security industry."
Global ePoint currently manufactures security technologies targeted at the aviation, law enforcement, commercial and industrial markets.
See the May issue of Security Systems News for more on the Tops acquisition.