Mergers and Acquistions News
Categories: Telecoms
October 21st 2008, 15:57PM
Homeland Integrated Security Systems (Hiss) has announced that it is considering purchasing a firm in the video telecommunications industry.
The company is looking at making an acquisition in the sector in order to diversify its portfolio of products, claiming that it has already identified - and is in talks with - a potential candidate.
Fred Wicks, the firm's president and chief executive, suggested that video telecommunications was growing quickly as a segment as businesses look to reduce the amount of money they spend on travelling.
"We've been presented with an opportunity to discuss a possible acquisition by Hiss to enter this rapidly expanding market segment," he remarked.
No companies have been mentioned as possible acquisition targets as yet and Hiss did not reveal how much it is willing to spend on gaining a foothold in the industry.
Earlier this month, Hiss' board of directors approved plans for the firm to offer a share exchange to its stockholders.
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