Brief: Tempest Security's Unit Acquires Dynamic Security Solutions

Tempest Security AB

09/03/2022 06:26

March 9 (Reuters) - Tempest Security AB (publ.)  TSEC.ST :
    * SAID ON TUESDAY HAS THROUGH WHOLLY OWNED SUBSIDIARY
TEMPEST
SECURITY HOLDING INC. SIGNED AN ACQUISITION AGREEMENT OF DYNAMIC
SECURITY SOLUTIONS LLC (DSS), A COMPANY REGISTERED IN NEW JERSEY
WITH HEADQUARTERS IN FLORIDA
    * WITH THE ACQUISITION, TEMPEST STRENGTHENS ITS OFFERING IN
ANOTHER FIVE STATES; NEW JERSEY, NEW YORK, FLORIDA, CALIFORNIA
AND ARIZONA
    * THE PURCHASE PRICE FOR THE ACQUISITION IS USD 2,900,000,
WHICH
WILL BE PAID IN USD 2,150,000 IN CASH AND USD 750,000 IN NEWLY
ISSUED SHARES IN TEMPEST SECURITY AB
    * THERE ARE ALSO ADDITIONAL PURCHASE PRICES ATTACHED TO THE
PURCHASE BASED ON THE COMPANY ACHIEVING PREDETERMINED SALES AND
PROFIT TARGETS.
    * ADDITIONAL PURCHASE PRICES ARE BASED ON THE YEARS 2022 AND
2023,
RESPECTIVELY, AND CAN AMOUNT TO USD 150,000 AND USD 225,000 IN
CASH, RESPECTIVELY

    
    
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