Strategic Vista Finalizes Acquisition of Mansoor Electronics
Strategic Vista Corp. (SVII), a subsidiary of Strategic Vista International Inc. and a provider of video security, surveillance and communication systems, announces it has finalized the acquisition of the operating assets of Mansoor Electronics Ltd. The final purchase price for the assets acquired was approximately $2.8 million, with a cash payment of $1.5 million on closing. The remaining amount of the purchase price will be paid in equal installments over the next six months. SVII did not assume any material liabilities in the transaction.
Based in Markham, Ontario, Mansoor Electronics Ltd. markets video surveillance products including CCTV systems, wireless burglar alarms and video door phones under the brand name Home Sentinel. During the past year, the acquired operations achieved revenue of more than $6 million.
Commenting on the purchase, Bernie Klein, chairman and CEO of SVII stated, “We are very pleased with the completion of the acquisition of Mansoor’s security surveillance business. We have already begun to integrate the Mansoor operations into Strategic Vista and are excited by the opportunities to introduce the Mansoor products into our customer base. The addition of the Home Sentinel brand name solidifies our product offerings under four brands. We are confident that this acquisition will be immediately beneficial to our results.”
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