Unican Takes Over 100% Ownership of Lodging Technology Corp.
Unican Security Systems Ltd. announces that it has acquired 100 percent of the shares of Lodging Technology Corp. (LTC) based in Roanoke, Va. With annual sales of $2 million, LTC is a leader in infrared, sensor-based hotel energy conservation and occupancy-based systems. “The acquisition of LTC will provide Unican with a platform to provide total system solutions and a broader range of products to the hospitality industry. The technology will also be leveraged and migrated to commercial applications,” says Aaron Fish, chairman and CEO of Unican. Terms of the transaction were not disclosed and part of the consideration was paid in Unican shares. Unican is a global supplier of access control products for both the hospitality and commercial sectors, as well as mechanical and electronic security products for the safe and vault industry.
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