MEMPHIS, Tenn., Dec. 16, 2020 /PRNewswire/ — 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…