Remote Surveillance announces its presence
IRVINE, Calif.--After spending much of 2006 developing its infrastructure, full-service security firm Remote Surveillance Technologies, based here, has announced an intent to acquire Applied Security Logistics, a security integrator based in Los Angeles. RST will acquire 100 percent of the stock of the company in a stock exchange and run ASL as a wholly owned subsidiary. ASL founder Thomas McCloskey will remain with the firm and be added to RST's senior management.
RST expects the acquisition to yield roughly $1.25 million in revenue in 2007 and hoped at press time to close the deal shortly after the finish of the first quarter.
Dr. Laurence Harper, president and chief executive officer of RST, said ASL's knowledge and customer list were most important in the acquisition and that "this is the first of many potential acquisitions the company will be making as we exploit opportunities for consolidation in the industry."
Last year, RST began its operations by building a central station and signing up clients like SC Fuels, Cajon Valley School District and Southland Transit. The company, traded on the Pink Sheets market, has set aggressive growth goals, with expectations of $4.6 million in gross sales for 2007 and $16.5 million in sales for 2008 and gross margins exceeding 40 percent.