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
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SOURCE Avante Logixx Inc.