TORONTO, April 1, 2015 /CNW/ - Avante Logixx Inc. (TSXV: XX) ("Avante") is pleased to announce that it has closed its previously announced acquisition of all of the issued and outstanding shares of LVS Inc. ("LVS") pursuant to a share purchase agreement dated March 13, 2015.
Based in the Greater Toronto Area and founded in 1993 as a high end custom residential security and automation services integrator, LVS (www.lvssecurity.com) developed a specialized skillset in high end residential installations and later a commercial security capability. LVS generates over $2,800,000 in revenue annually of which approximately 1/3rd is recurring in nature. The founder of LVS, Yoram Dushek, will act as President of LVS pursuant to an employment agreement and continue to drive strategy and execution.
About Avante Logixx (www.avantelogixx.com )
Avante Logixx Inc. (TSX VENTURE: XX) is a Toronto based security and technology company. Its subsidiaries, Avante Security Inc. (www.avantesecurity.com ) and recently acquired INTO Electronics Inc., (www.intoelectronics.com ) together provide best in class security response and other security services for residential and commercial clients, and high-rise condominium applications, and are industry leaders in designing and installing complex security systems, access control, intelligent video analytics and smart home automation. Its International Travel Security offering helps corporations protect traveling employees working abroad in medium/high risk jurisdictions and has executed travel details in over 60 countries. The company continuously develops innovative products and applications within its core competencies. Please visit our websites at www.avantelogixx.com and www.avantesecurity.com and consider joining our investor email list. Avante recently conducted a test comparing its rapid alarm response service with that of other alarm companies. For the result of this test please see www.6minuteresponse.com.
FORWARD LOOKING STATEMENTS
Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information" These statements include, but are not limited to, statements with respect to the entering into of agreements, the closing of transactions and the use of proceeds. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing of transactions, the ability to fulfill certain conditions and obtain regulatory approvals, and the ability to raise funds and use the proceeds as anticipated.
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SOURCE Avante Logixx Inc.
For further information: Avante Logixx Inc.: George Rossolatos, Co-CEO, (416) 923-6984 x221, firstname.lastname@example.org; Leland Verner, Chairman, (416) 823-7474, email@example.com