NanoSensors Acquiring DKL International
SANTA CLARA, Calif., Feb. 7, 2007 -- Nanotechnology company NanoSensors Inc., a developer of instruments and sensors to detect explosives, chemical and biological agents, announced it will acquire privately-held DKL International Inc. of Vienna, Va., in a cash and stock deal.
DKL International is a supplier of passive detection technology and related products to the homeland security, defense, military, law enforcement, security, safety, and rescue markets. The company's primary products are LifeGuard and SilentGuard. LifeGuard can locate and track a standing adult at a distance of 500 meters in the open and at shorter ranges through concrete walls, steel bulkheads, brick, plastics, heavy foliage, water, and other barriers. It is used in Asia and Europe for port security, mine safety, and by law enforcement and search-and-rescue groups. SilentGuard is a silent and passive electronic tripwire that detects only living humans. It can be concealed in walls or doorways or buried underground and used as part of an integrated perimeter system for military, security or medical use.
"After careful consideration, DKL International became an obvious choice for our first acquisition," said Ted Wong, NanoSensors' chairman and CEO. "This acquisition will provide us with a portfolio of patents and patent applications, revenue-producing assets, infrastructure, and strategic relationships that NanoSensors can leverage to achieve its existing business objectives."
NanoSensors' first sensor under development is a handheld wand that can be used to screen people for explosives as they enter public buildings. It has yet to be tested with live explosives.
While specific financial details were not disclosed, the transaction will include NanoSensors issuing stock to DKL International, assuming certain of its liabilities and providing additional capital at closing to fund DKL's operations.
Howard Sidman, chairman and CEO of DKL International, said the acquisition will allow his company to expand its operations. "To date, the majority of our sales have come from Asian markets, and this transaction will give us the capability to expand our sales and marketing effort into the United States," he said.
The deal is subject to the approval of both companies' boards of directors and shareholders and several other closing conditions. It is expected to close during the second quarter of 2007, NanoSensors said.
For more information, visit: www.nanosensorsinc.net
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