Meet ATWEC Technologies, Inc. ($ATWT), an American technology company specializing in child safety and security products. The company recently announced that it is nearing completion on a strategic acquisition. This acquisition is expected to strengthen ATWEC’s reputation as one of the largest providers of child safety products in North America. Experts foresee this development can increase the shareholder value significantly.
Digital Updates and School Bus Security
An important announcement recently was the update of the website www.atwec.com. As a result, the entire product range is now visible to its visitors. Other changes worth mentioning are the information regarding the company’s future plans and current projects, that have been added to the pages. The website now serves in part as a place where business leaders can communicate with shareholders and share valuable information.
In September, ATWEC was mentioned in the news as FindIt recommended ATWEC warning systems. In particular for vehicles – such as school buses – that transport children to school. The aim of the system is to prevent forgotten children in school buses by warning the driver via an advanced sound system. FindIt will help to promote this system to companies that are not aware of ATWEC Technologies, but are active in or work with this sector.
Level Three turns out to be indispensable
In August, ATWEC Technologies entered the surveillance market with the new LS3-Cam. The recent acquisition of Level Three Security expandsthe company’s commercial product line. The LS3-Cam is Level Three’s signature product, with patent applications filed early this year. The product’s audio and video surveillance systems provide comprehensive surveillance capabilities. For example, the camera has detection, identification and deterrence options. The LS3-Cam is further characterized by its mobility and great flexibility, making it easy to transport.
On July 28, Level Three Security was acquired by ATWEC, offering immediate security and surveillance services to complement the vehicle safety product line. Calvin Keys, Director of Level Three, became the officer and director. This should start to generate substantial revenues, particularly as of 2021. According to research from Markets & Markets, the video surveillance market is expected to grow from $45.5 billion in 2020 to $74.6 billion by 2025. The reason given for this is the growing concern about public safety, increased security and current technological capabilities.
Level Three agreed to the acquisitions in exchange for cash and stock. The company immediately acquired substantially all of Level Three’s assets and liabilities and added new resources to acquire the business of the new security division. This has made it officially the new business division of ATWEC. Its a very momentous development for the company as Level Three adds its powerful surveillance products and services to the product range.
With a total expected cost of more than $1 million, the acquisition has proven essential to the short-term financial outlook and growth strategy. The Board also approved the acquisition plan to offer the target companies cash and conditionally allotted shares, enabled by a new liability financing program, which is expected to start in coming weeks.
Finally, ATWEC approved the plan to move from an over-the-counter market to the OTCQB by 2021. This move requires financial audits and other minimum requirements, and the company is now evaluating several PCAOB registered accounting firms for financial audits.
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