ATWEC Technologies, Inc. (OTCMKTS:ATWT)
Our focal point this morning is going to to be ATWT, a Tennessee-based developer of technologically advanced childcare safety and security products that grow increasingly more relevant in the often dangerous world of today.
The core of company portfolio begins with the patented vehicular backup warning systems, KiddieVoice, to address a serious problem that has sadly not disappeared with the widespread advent of backup cameras. According to the National Highway Safety Traffic Administration (NHTSA), there are at least 500,000 backing accidents of some type every year in the U.S. alone, many of them involving children.
The ATWEC KV-3 and KV4 systems address another vehicle-related high priority child safety issue, which is children forgotten in cars. There are a number of dangerous scenarios this can present, not least of which being heat deaths in the summer months. Nearly every state has experienced at least one death since 1998, and in 2018, a record number of 53 children died after being left in a hot vehicle, closely followed in 2019 with 52 deaths.
The company has also been adding to its robust portfolio through recent acquisitions.
ATWT acquired Level Three Security on July 28, and will immediately offer security and surveillance services to complementing its vehicle safety products. The addition of Level Three brings with it the advanced audio and video surveillance system, LS3-Cam™, as well as the expertise of Calvin Keys, who boasts over forty years of experience in the security industry. (>>View PR)
ATWT has also revealed yet another key transaction this morning that further expands the company’s offerings to the educational and daycare markets:
Memphis, TN, August 25, 2020 (PR WIRE) – ATWEC Technologies, Inc.(OTCMKTS:ATWT), a US-based technology company specializing in child safety, today announced it has signed a binding Letter of Intent (“LOI”) to acquire SafeBus Technologies, Inc., a private US technology company specializing in mobile “in-vehicle” IP wireless security solutions for the Education market.
ATWT signed the LOI on Monday, as the merger is scheduled to go effective in early September, pending final shareholder approvals. SafeBus will become a wholly-owned subsidiary of ATWT, and its shareholders will receive cash and stock in the deal. Specific terms of the transaction were not disclosed, but will be released with the final Agreement and Plan of Merger in September.(>>View Full PR)
As it happens we are also running across ATWT at an opportune moment, technically speaking, with strength building on the chart. If you’ll continue reading below, we’ll highlight what makes the stock itself so attractive at the present time.
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