Compass Technologies Acquired by Homeland Security Capital Corp. Subsidiary
ARLINGTON, Va.
Homeland Security Capital Corp. announced its majority-owned subsidiary Security Holding Corp. has acquired Compass Technologies Inc. of Exton, Pa.
“Compass is a leader in the design and manufacturing of access control systems, especially as it relates to the educational market, including K-12 and university,” said Joel Konicek, CEO of Security Holding Corp. “We believe this acquisition will enable us to be on the cutting edge of electronic security by integrating our RFID and digital video capabilities with Compass’ access control technology.”
Compass is expected to generate more than $2 million in revenue in 2006, Konicek said.
In a related matter, Homeland Security Capital Corp. said its subsidiary Nexus Technologies Group has terminated negotiations to acquire Viscom Systems Inc., a security integrator based in Cambridge, Mass. The parties were unable to agree on terms, according to a company statement.
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