ARLINGTON, Va., Aug. 23 -- Homeland Security Capital Corp. (BULLETIN BOARD: HMSC) , a company engaged in the acquisition, development and consolidation of homeland security-related businesses, announced today that it has acquired Milwaukee-based SecurityInc, LLC and two affiliate companies in a merger transaction with Security Holding Corp., a newly formed subsidiary of Homeland Security Capital. Terms of the transaction were not disclosed.
SecurityInc is a single-source manufacturer of electronic access control solutions using active radio frequency identification (RFID) technology. These systems are designed for use by the commercial and government sectors. The company markets its products through an established network of system integrators and authorized distributors.
As part of the transaction, Homeland Security Capital will also acquire SecurityInc's two affiliate companies Cyberlynk, an IT support company for enterprise applications, and AAID Security Solutions, a Georgia-based leading active RFID solutions supplier. Homeland Security Capital will own a controlling interest in Security Holding Corp.
In total, the acquired companies generated approximately $3 million in revenues in 2005 and are expected to produce more than $7 million in 2007.
