5.24.2006 |
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Global ePoint’s Acquisition Candidate, Tops Digital Security, Awarded Contract for Video Surveillance by Orange County Probation Department |
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Financing Announced Today Expected to Allow Company To Complete Acquisition Prior to End of May |
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CITY OF INDUSTRY, Calif. — (BUSINESS WIRE) — May 24, 2006 — Global ePoint, Inc. (Nasdaq: GEPT – News), a leading manufacturer of security technologies for the aviation, law enforcement, government, and commercial / industrial markets, announced today that Tops Digital Security (Tops), a provider of large enterprise video surveillance systems that are designed primarily for high quality video capture and central monitoring security operation, has sold Tops enterprise Digital Video Surveillance systems to the Orange County, California Probation Department for the Orange County Juvenile Hall. Global ePoint recently entered into an agreement to acquire the assets, including intellectual property and customer base, of Tops. The $8.2 million financing that the Company announced today will allow Global ePoint to complete the acquisition of Tops prior to the end of the month.
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About Global ePoint | |||
Global ePoint designs, manufactures, sells and distributes digital video surveillance systems for the law enforcement, military, aviation and homeland security markets. On the cutting edge of digital technology, Global ePoint is developing new compression technologies and next–generation, secure network digital video systems and servers for a wide range of new markets, concentrating primarily on security and homeland defense applications. The Company also manufactures customized computing systems for industrial, business and consumer markets, as well as other specialized electronic products and systems. Complete vertical integration — from design and manufacturing to sales and distribution — allows the Company to capture efficiencies and maintain cost advantages in these growing markets, particularly homeland security. For more information, please visit www.globalepoint.com
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