ARLINGTON, Va., Sept. 5 /PRNewswire-FirstCall/ -- Homeland Security Capital Corp., announced today that its majority-owned subsidiary Security Holding Corp. has acquired Compass Technologies, Inc., a provider of access control and security management systems.
Based in Exton, Pa., Compass is expected to generate more than
Joel Konicek , CEO of Security Holding Corp., said, "Compass is a leader in the design and manufacturing of access control systems, especially as it relates to the educational market including K-12 and university. We believe this acquisition will enable us to be on the cutting edge of electronic security by integrating our RFID and digital video capabilities with Compass' access control technology."
Jerry Cordasco , president of Compass Technologies, said, "We are delighted to begin operating under the Security Holding Corp. and Homeland Security umbrella. After a substantial R&D investment in our products over the past few years, we believe we are now ready to capitalize on the market growth in this area. Our relationship with the other technology companies within Security Holding Corp. and HSSC will further enhance our ability to provide complete solutions to all of our customers."
C. Thomas McMillen, chairman and CEO of Homeland Security Capital Corp.,said, "We are delighted to add another high growth technology company to our increasing portfolio of homeland security-related companies With the acquisition of Compass, our annualized revenue run rate is approximately
In a related matter, McMillen said Homeland Security Capital Corp.'s subsidiary Nexus Technologies Group, has terminated it negotiations to acquire Viscom Systems, Inc. a security integrator based in Cambridge, Mass. McMillen said the parties were unable to agree on terms.
About Security Holding Corp.
About Compass Technologies
Compass Technologies, the company's latest acquisition, designs, manufactures and supports forward-thinking access control and security management systems designed to control and integrate multiple disciplines of electronic security, environmental and operational systems for virtually anysize facility. The company currently has approximately 135 active softwareinstallations in state and federal governments and institutions of higher learning. For more information, visit www.compasstec.com.
About Homeland Security Capital Corporation
Homeland Security Capital is a consolidator in the fragmented homeland security industry. The company is focused on creating long-term value bytaking controlling interest and developing its subsidiary companies through superior operations and management. The company is headed by former Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4th Congressional District of Maryland. Homeland Security Capital intends to operate businesses that provide homeland security products and services solutions, growing organically and by acquisitions. The company is targeting emerging companies that are generating revenues but face challenges in scaling their businesses to capitalize on homeland security opportunities. The company will enhance the operations of these companies by helping them generate new business, grow revenues and improve cash flows. For more information, visit www.hscapcorp.com.