MetAlert (OTC: MLRT), a pioneer in location-sensitive, health-monitoring devices and wearable technology products for remote patient monitoring, has closed on a merger agreement with Delaware-based Level 2 Security LLC. According to the announcement, Level 2 has merged into Level 2 Security Products Inc., a wholly owned subsidiary of MetAlert Inc. The transaction is a “formidable step in solidifying the financial and operational position of the company and encapsulates a vision to amplify recurring revenue streams while scaling the company’s life-saving technology and IP portfolio.” The company also noted that the move reinforces its commitment to increasing revenues and subscribers. The acquisition includes all Level 2 tangible assets acquired from Level 2, including bank balances, Intellectual Property, approximately 3,800 units of ready-to-ship product inventory, digital collateral, an online store, an Amazon account and smartphone apps as well as ongoing R&D operations. Level 2 Security provides tracking technology to detect unauthorized movement or use of firearms and other valuable moving assets, such as motorcycles, electric bikes, ATVs, boats, and more.
“Level 2’s patented technology specializes in monitoring unauthorized use and movement of firearms and other valuable mobile assets and is poised to broaden our market reach significantly,” said MetAlert CEO Patrick Bertagna in the press release. “While we expand our footprint in asset tracking, our mission remains unchanged: delivering unparalleled safety-oriented solutions. The potential here is monumental. Imagine a world where gun owners receive instant notifications of unauthorized use or movement of their firearm; this is a transformative step in gun safety. We are really excited about all the different channels and opportunities this could open up for us, as there are millions of guns and valuable mobile assets that constantly need to be monitored. . . . By tapping into a vast new market, this acquisition signifies a strategic investment in bolstering our short- and long-term growth strategy and will broadly expand our reach into the arena of nonhuman asset tracking. This transaction represents a convergence of our core mission of delivering life-saving technology with a sharp focus on sustainable, long-term subscription-based revenue growth.”
To view the full press release, visit https://ibn.fm/BUu3B
About MetAlert Inc.
MetAlert and its subsidiaries are engaged in designing, developing, manufacturing, distributing and licensing products, services and intellectual property in the GPS/BLE wearable technology, personal location, wandering assistive technology, and health-data collection and monitoring business. With more than 20 years of experience and an extensive patent portfolio, MetAlert is a leading solution provider for consumers/patients afflicted with Alzheimer’s, dementia and autism. This market represents approximately 2.9% of the world’s population. The company offers global end-to-end hardware, software and connectivity solutions, in addition to developing two-way tracking technologies, which seamlessly integrate with consumer products, enterprise and government agency applications. The company utilizes the latest in miniaturized, low-power consumption GPS, cellular, RF, NFC and BLE technologies, enabling caregivers to track and monitor patients in real-time. Known for its game-changing and award-winning patented GPS SmartSole(R) — think Dr. Scholl’s meets LoJack, the world’s first invisible, wearable technology tracking device created for those at risk of wandering due to Alzheimer’s, dementia, autism, and traumatic brain injury. MetAlert’s subscription-based business model is built around technology innovation with intellectual property protection. The company has international distributors servicing customers around the globe with subscribers in more than 40 countries ; the company is also a U.S. military government contractor. Other customers include public health authorities, municipalities, emergency and law enforcement, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes and consumers. For more information about this company, please visit www.MetAlert.com.
NOTE TO INVESTORS: The latest news and updates relating to MLRT are available in the company’s newsroom at https://ibn.fm/MLRT
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