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ATWEC Finalizes $1.96M SafeBus Technologies Deal, Securing Strategic Position In $250B Child Safety Industry
ATWEC Finalizes $1.96M SafeBus Technologies Deal, Securing Strategic Position In $250B Child Safety Industry.
About this update from Atwec Technologies, Inc.
[{"type":"text","content":"\n\n\n\nATWEC Finalizes $1.96M SafeBus Technologies Deal, Securing Strategic Position In $250B Child Safety Industry\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nATWEC Finalizes $1.96M SafeBus Technologies Deal, Securing Strategic Position In $250B Child Safety Industry\nPR Newswire\nMEMPHIS, Tenn., Dec. 16, 2020\n\n\n\nMEMPHIS, Tenn., Dec. 16, 2020 /PRNewswire/ -- ATWEC Technologies, Inc. (OTC Markets: ATWT), a US-based technology company specializing in child safety, today announced the completion of its 100% acquisition of SafeBus Technologies, Inc., a private US technology company specializing in mobile \"in-vehicle\" IP wireless security solutions for the Education, Senior and Tourism markets.The now finalized deal valued at $1.96 million in cash and stock require mandatory due diligence from ATWT's legal counsel. SafeBus Technologies, Inc., headquartered in Atlanta, GA, will become a wholly owned subsidiary of ATWT, and its shareholders will receive $560,000 in cash and 80M shares of restricted common stock in the deal.SafeBus President and CEO Stuart Barton was enthusiastic, stating, \"Closing this merger is a significant step towards our mutual goal of becoming a major corporate player in the child safety industry. Our shareholders welcome the opportunity to join forces with the ATWEC team, and combining resources, should enable exponential growth in the years ahead.\"SafeBus Technologies, a private Wyoming corporation, has developed a suite of unique products and services that allows parents of school age children real-time tracking of both the bus and their child, thus providing invaluable \"peace of mind\" for parents or guardians. Likewise, the Company's products and services provide strong value for vehicles in the senior and tourism markets, and early indicators show substantial revenue growth potential by 2Q 2021.ATWT now adds these new products and services to its growing offering of child safety and security technology products.  The Company will immediately enter the US school bus transportation market, offering the SafeBus Alert™, Sa...