South African company Celtron International is making its play into the homeland security market. The company announced on Tuesday that it has signed a letter of intent to purchase all of the outstanding shares of Satellite Security Systems (S3), a firm involved in GPS-based tracking and monitoring of fixed and mobile assets.
While the purchase still has a number of hurdles (approval by S3 shareholders among them), the move would put Celtron in the U.S. asset management market.
S3 offering to the homeland security market is GlobalGuard, a tracking technology primarily for objects in transit. The company lists a number of school districts as its customers who use the system for bus tracking, but the technology has also been used by the U.S. Secret Service, the Bureau of Immigration and Customers Enforcement and the Department of Labor.
Financial terms of the deal were not made public yet.