Business
Avante Security Corp. Announces the Transfer of Substantially all of its Uniformed Guard Operations to Securitas Canada Limited
TORONTO, July 21 /CNW/ - Avante Security Corp. (TSXV: ASY) (the "Corporation") announced today th...
About this update from Avante Corp
[{"type":"text","content":"\n\n\n\nTORONTO, July 21 /CNW/ - Avante Security Corp. (TSXV: ASY) (the\n"Corporation") announced today that Avante Security Inc. ("Avante"), a wholly\nowned subsidiary of the Corporation, and Securitas Canada Limited\n("Securitas") have entered into a definitive agreement whereby Securitas will\nassume substantially all of the uniformed guard operations of Avante in\nexchange for payments to Avante over the next three years. The transaction is\nexpected to close on or about August 4, 2008.\n\n\nIn connection with this initiative, the Corporation will be in a position\nto further focus on the design and installation of high-end security systems,\nexecutive response and patrols and the commercialization of its 724Smart WIP\ntechnology.\n\n\n"This transaction will allow Avante to focus its efforts on its core\nbusiness. In addition, we look forward to exploring new business opportunities\nwith Securitas going forward," stated Emmanuel Mounouchos, President and CEO\nof the Corporation.\n\n\n"Securitas is pleased to begin this relationship with Avante and is\nexcited by the prospects of utilizing Avante's 724Smart WIP technology in the\nfuture," stated Robert Pretto, President of Securitas.\n\n\nAbout the Corporation\n\n\nThe Corporation has developed proprietary hardware and software for\nwireless security, which provides monitoring for data and video, home\nautomation and remote monitoring, demand/response energy management and\nmetering applications. The Corporation's Secure 724Smart WIP is a smart\ninteractive portal module that uses proprietary hardware to convert wired\ninformation to a wireless format without the need of a personal computer or\nserver. The Secure 724 transmits data in multiple formats to wireless mobile\ndevices and/or PC's. The Corporation is headquartered in Toronto, Ontario. For\nmore information, please visit www.avantesecurity.com.\n\n\nAbout Securitas\n\n\nSecuritas is a wholly owned subsidiary of Securitas AB of Sweden, a\nknowledge leader in the security industry with over 250,000 employees\noperating in 30 countries.\n\n\nThese forward-looking statements, by their nature, necessarily involve\nrisks and uncertainties that could cause actual results to differ materially\nfrom those contemplated by the forward-looking statements. The Corporation\nconside...