Integrated Security System Plans to Sell B&B ARMR

  • Dec 27, 2010

Integrated Security Systems, Inc., (ISSI) has entered into an asset purchase agreement for the sale of substantially all of the assets of B&B ARMR to an affiliate of Strait Lane Capital Partners, LLC of Dallas, Texas, according to a Dec. 20 press release.

The sale includes substantially all of the accounts receivable, inventory, fixed assets and intellectual property of B&B ARMR, plus its investment in the joint venture, B&B Roadway.

The purchase price to be paid to the company is $6 million, subject to certain potential adjustments. In addition, the buyer agreed to assume certain of B&B ARMR's liabilities. Employees of B&B ARMR will be offered employment by the buyer.

Following the asset sale, the company will retain the net proceeds, but will not be actively conducting any business. It will actively seek a merger, acquisition or similar business combination with another company to again be engaged in an active business.

A stockholder meeting will be held on Jan. 31, 2011 at the company's principal executive offices for the purpose of considering and voting upon this business.

Headquartered in Carrollton, Texas, ISSI designs, develops and markets security and traffic control products to the commercial, industrial and governmental sectors. The company provides anti-terrorist barriers, security gates and gate operators for perimeter security applications through its subsidiary, B&B ARMR. The company also designs, manufactures and distributes warning gates, lane changers, airport and navigational lighting through its subsidiary, B&B Roadway.

Featured

  • Cost: Reactive vs. Proactive Security

    Security breaches often happen despite the availability of tools to prevent them. To combat this problem, the industry is shifting from reactive correction to proactive protection. This article will examine why so many security leaders have realized they must “lead before the breach” – not after. Read Now

  • Achieving Clear Audio

    In today’s ever-changing world of security and risk management, effective communication via an intercom and door entry communication system is a critical communication tool to keep a facility’s staff, visitors and vendors safe. Read Now

  • Beyond Apps: Access Control for Today’s Residents

    The modern resident lives in an app-saturated world. From banking to grocery delivery, fitness tracking to ridesharing, nearly every service demands another download. But when it comes to accessing the place you live, most people do not want to clutter their phone with yet another app, especially if its only purpose is to open a door. Read Now

  • Survey: 48 Percent of Worshippers Feel Less Safe Attending In-Person Services

    Almost half (48%) of those who attend religious services say they feel less safe attending in-person due to rising acts of violence at places of worship. In fact, 39% report these safety concerns have led them to change how often they attend in-person services, according to new research from Verkada conducted online by The Harris Poll among 1,123 U.S. adults who attend a religious service or event at least once a month. Read Now

  • AI Used as Part of Sophisticated Espionage Campaign

    A cybersecurity inflection point has been reached in which AI models has become genuinely useful in cybersecurity operation. But to no surprise, they can used for both good works and ill will. Systemic evaluations show cyber capabilities double in six months, and they have been tracking real-world cyberattacks showing how malicious actors were using AI capabilities. These capabilities were predicted and are expected to evolve, but what stood out for researchers was how quickly they have done so, at scale. Read Now

Most   Popular

New Products

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction.

  • HD2055 Modular Barricade

    Delta Scientific’s electric HD2055 modular shallow foundation barricade is tested to ASTM M50/P1 with negative penetration from the vehicle upon impact. With a shallow foundation of only 24 inches, the HD2055 can be installed without worrying about buried power lines and other below grade obstructions. The modular make-up of the barrier also allows you to cover wider roadways by adding additional modules to the system. The HD2055 boasts an Emergency Fast Operation of 1.5 seconds giving the guard ample time to deploy under a high threat situation.