Memphis, TN -- December 16,
2020 -- InvestorsHub
NewsWire -- 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™, SafeBus ETA™ and SafeBus LiveVue™
product lines, targeting day care and K-4 elementary schools that
transport children to and from school
daily.
Education technology expenditure is expected to reach $341B
worldwide by 2025, evidenced by the aggressive acceleration in
venture capital invested through 2019, which reached a record $8B.
The Company plans to launch an aggressive sales and marketing
campaign to capitalize on this increased demand, fueled by
concerned parents and
administrators.
Darnell
Stitts, ATWEC’s President and CEO, stated, “Our hard work and
planning to grow the Company quickly, via key strategic
acquisitions, is finally paying off. The Board has worked hard to
complete the transactions – first purchasing Assembled Products,
and now acquiring SafeBus. ATWEC will continue to seek out
other deals that will maximize our profit potential, and thereby
increase shareholder value in
2021.”
SafeBus
brings years of software development in child safety, real-time
tracking, parent notifications, and fleet management services to
ATWEC, along with strong partnerships and significant interest in
Middle East markets. Expanding services for school buses,
daycare vehicles, and even senior living transport will bring
diversification to ATWT’s ever-growing product offerings in 2021
and beyond.
Barton
reflected on the value the acquisition will bring to ATWT. “In
these uncertain times the safety of our children and loved ones is
of utmost importance. The tools we deliver to these markets enables
peace-of-mind through real-time tracking and viewing. School
administrators can access live feeds during transport helping them
mitigate any issues or incidents that could – and will - arise in
everyday life. Seeing parents relax, and smile, when they see that
their child is safe is
priceless.”
Shareholders and other investors can find the disclosure related
to the Company’s acquisition of SafeBus Technologies, Inc., adding
new technology product lines geared towards protecting children and
earning recurring monthly revenues, along with the latest ATWT
developments, on the OTC Markets website, as well
as the Company’s website, www.atwec.com.
Information regarding the SafeBus Technologies, Inc. products and
services can be found on their website, www.safebustech.com.
About ATWEC Technologies, Inc. (OTC PINK:
ATWT):
ATWEC
Technologies, Inc. is a child safety and security technology
company, headquartered in Memphis, TN, in business since
1979. ATWT has developed three unique child safety devices
which protect children while they are being transported, both to
and from schools, events, and homes, and gives parents and
administrators ‘peace of mind’. ATWT has been issued patent
number 7,646,288, B2 for its KV-3 system by the US patent office,
and its business model is associated with legislation designed to
mandate these systems for school and other vehicles, on a
state-by-state basis. The KV-3 and the Kiddie Alert™ backup
systems are currently being sold to customers across the
globe. The Company recently announced their new "state of the
art" KV-4 platform which uses RFID technology and their new
cloud-based system to easily track children on vehicles to and from
home. The Company also recently announced its KV-X product
which used ultra-violet rays to sanitize a bus or van from bacteria
and pathogens. The Company trades on the OTC Markets under
the symbol “ATWT”, and the Company’s website is
www.atwec.com.
About SafeBus Technologies, Inc. (Private:
WY):
SafeBus
Technologies, Inc. is a privately held WY corporation providing
child safety solutions to schools and day care centers, a $250B
market worldwide. Headquartered in Atlanta, the Company
combines the latest hardware with creative software development to
provide safety and security products for school transport vehicles,
now in high demand for today’s dangerous world. Millions of
children travel to school every day, and parents will always worry
about their well-being. Bus drivers have great
responsibility, and accidents happen, both on the bus and on the
road. Schools have been looking for ways to better control
their transportation operations, for increased security, for better
record-keeping and for improved safety. Founded in 2012, the
Company has spent considerable time, effort, and capital designing
and developing its new SafeBus Alert™ products, for sale to
customers in the US and abroad. The cutting-edge systems
include the SafeBus Alert™, SafeBus ETA™ and SafeBus LiveVue™
product lines, targeting day care and K-4 elementary schools that
transport children to and from school daily. The Company
utilizes the latest iOS technology, is highly affordable and easy
to use, and now gives administrators current alerts and accurate
reports, while giving parents ‘peace of mind’ in knowing that their
kids are safe. The Company’s website is
www.safebustech.com.
Safe Harbor
Statement
This
release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. "Forward-looking statements" describe future
expectations, plans, results, or strategies and are generally
preceded by words such as "may", "future", "plan" or "planned",
"will" or "should", "expected," "anticipates", "draft",
"eventually" or "projected".
You are
cautioned that such statements are subject to a multitude of risks
and uncertainties that could cause future circumstances, events, or
results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements because of various factors, and other risks identified
in the Company’s disclosure
information.
All
company or product names used are the property of their respective
owners and may be the trademarks (TM), service marks (SM), or
registered marks (R) of other companies, and are used for
information purposes only and to their owners' benefit, without
intent to infringe.
CONTACT:
ATWEC Technologies, Inc.
Darnell Stitts, Persident & CEO
atwec@atwecgroup.com
901-435-6849
SafeBus Technologies,
Stuart Barton, CEO and Director
stuart@safebustech.com
404-429-1315
Atwec Technologies (PK) (USOTC:ATWT)
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