Denver-based HS3 Technologies is planning to buy quick-service restaurant technology firm TechAmerica in a move that would ramp up its technology beyond security systems. The value of the potential purchase, which is still in the negotiations stage, has not been disclosed.
TechAmerica, with 10 offices across the U.S. in major cities has provided a variety of tech systems to the fast-food restaurant industry, from the headset systems used to take orders to such offerings as satellite television and background music, allowing the company to be what it calls a "one stop shop" for technology in the quick-service industry. Synergy for the acquisition comes from the delivery of drive-thru video and DVR surveillance at the restaurants.
The move will allow HS3 to combine its security products, including remote video surveillance systems and access control offerings (including biometrics) along with the other technical needs that TechAmerica has been able to provide to this industry.
HS3 Technologies has primarily gone to market through a dealer/reseller approach with its technologies, which range from DVRs to wireless mesh networks to standalone Biolock biometric access control devices and its Lagotek home automation system.
"The acquisition of TechAmerica will combine HS3's security products and services, including remote video and biometric access control with TechAmerica's technological solutions and products," said Mark Lana, President of HS3 in a prepared statement released last week announcing the planned acquisition. "The merger of these two companies will expand our market segment and increase our overall ability to participate in applications for multi-market products which focus on high end security solutions. This acquisition will provide immediate revenue and allow us to expand our sales goals aggressively based on the great synergies between our companies."