Firm Makes Investment in Samsung CCTV Distributor
NEW YORK
A New York investment firm has acquired the exclusive
distributor of Samsung CCTV products in North America.
Thinking Tools Inc. says it has purchased GVI Security
Inc., which distributes Samsung Electronics video security
products in both North and South America and the
Caribbean.
A press release by Thinking Tools touts the acquisition as
the company’s “entry into the homeland security market.”
The Carrolton, Texas-based GVI brought in $56 million of
revenue in 2003. Thinking Tools has been searching for
technology businesses to invest in since its previous
business – free Internet service provider StartFree.com –
ceased operations in December 2000.
While terms of the deal were not released, it was announced
that as part of the acquisition, GVI President and COO
Thomas Wade will now join Thinking Tools with the same
title. “The acquisition of GVI strategically focuses
Thinking Tools on the fast-growing government and
Fortune 1000 markets,” Wade says. “This is a first
step in building a platform for growth. We are continuing
to focus our expansion on adjacent product categories in
the $57 billion homeland security market.”
GVI becomes a wholly owned subsidiary of Thinking Tools,
which intends to provide video surveillance packages for
the retail, commercial and homeland security markets.
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