Visium Technologies, Inc. (VISM) Announces Letter of Intent to Acquire TSSG
Visium Technologies, (the “Company”), is pleased to announce that it has signed a non-binding letter of intent (“LOI”) with Threat Surface Solutions Group, LLC (“TSSG”), to acquire TSSG and all related interests and assets.
Based in Fairfax, Virginia, TSSG’s focus is on test and measurement (T&M), test and evaluation (T&E), cybersecurity, software and hardware platforms, and risk mitigation. TSSG offers unique comprehensive solutions to protect connected devices such as Internet-of-things (IoT) products, and Industrial IoT (IIoT) systems from penetration, mitigating the liability of manufacturers and protecting consumers from possible catastrophic loss. TSSG has designed a unique IoT test platform, the “Cyber Physical Test Bench” (CPTB). The CPTB is a cyber solution that has the unique ability to analyze up to 500,000 IoT devices and/or flows simultaneously.
“This is an excellent match with the Visium strategy of building a world-class technology company focused on cybersecurity, IoT, and mobility solutions”, said Mark Lucky, CEO of Visium Technologies, Inc. “TSSG offers expert services not only in the technical niches that Visium offers but across broader IT solutions. It expands Visium’s reach across the IT enterprise.”
Visium’s intent is to acquire TSSG, which will continue to operate as a wholly owned subsidiary of Visium under the management of Kevin Anderson. TSSG’s technical expertise and proven track record with service delivery and project management will significantly enhance the company’s ability to expand its market reach and to develop, design, and deliver new products and technological solutions to its customers.
“We are extremely excited about the prospect of teaming up with Visium and for the potential of our combined organizations,” said Kevin Anderson, Managing Director of TSSG. “We have significant near-term national and international revenue opportunities, and it is our desire to effect the closing of this transaction in the near future. Our engineering services team’s technical expertise and success with project management, coupled along with Visium’s technology and solutions will create a seamless synergy.”
The combining of these two established leaders in the IT space is a strategic move to prepare for the launch of a breakthrough technology product which has been under development at Visium for quite some time. This product relates to eDiscovery and analytics; it has the potential to become a standard in a number of related industries. Details relating to this project will be released in the near future. Additionally, Visium will enable TSSG to expand and deepen its service offerings in the rapidly changing IT landscape.
The closing of this acquisition is subject to the completion of due diligence and execution of definitive agreements. Shareholders and the investment community will be kept updated regarding the details of this acquisition accordingly.