Standard of Excellence: The Power of Personalization in Customer Care
Global Citizenship: Cultural Nuances Around the World
The Government Circuit: Four Things to Know About IPC Advocacy in 2025
Viper Networks Completes Acquisition for EcoTech Solutions
February 25, 2022 | Globe NewswireEstimated reading time: 1 minute
Viper Networks, Inc., an emerging international company in the LED lighting products and Smart City applications and integrated systems markets, is pleased to announce that the Company has officially acquired 100% of EcoTech Solutions, Inc. of Sheridan, Illinois with the issuance of restricted preferred shares this week.
The Company’s acquisition price of $1.7 Million U.S. was paid by issuing two separate Viper Networks certificates equaling $850,000 each based on two different share price amounts. One certificate shows 42.5 million restricted preferred shares based on a stock valuation of $0.02 per share, while the other certificate states 187.5 million restricted preferred shares based on a $.0045 price.
With this acquisition, Viper is reducing overall component and product cost, while significantly expanding the company’s product portfolio. Notably, the Company will also have full component level repair and refurbish capabilities for nearly all Industrial electronic and electrical equipment.
As a fully owned profitable subsidiary of Viper Networks, EcoTech’s revenue and earnings numbers along with an accounting of all inventory and assets will be featured in the Company’s first quarterly financial filing for the period ending March 31, 2022.
Viper Networks CEO, Farid Shouekani, stated: We are very excited about concluding this acquisition. EcoTech is already paying dividends as we ramp-up our Smart City manufacturing, testing and distribution efforts for deployment throughout the Greater Chicago area. But this is just one piece of a much larger puzzle we are methodically putting together for our growing list of global partners and business relationships.”
Shouekani continued: “In fact, it is from our recent success for new business with relationship building efforts worldwide, in both the private and public sectors, that we are poised to educate the market and our shareholders again and again shortly. For the Company, our aim is high and our reach is far, but our primary goal is profitability. Today, with the acquisition news of EcoTech Solutions… Viper Networks became more profitable.”
Share on:
Suggested Items
Element Solutions Posts 2024 Net Sales of $2.46 Billion, Up 5%
02/20/2025 | Element Solutions Inc.Element Solutions Inc , a global and diversified specialty chemicals company, announced its financial results for the three and twelve months ended December 31, 2024.
FTG Announces Full Year and Q4 2024
02/20/2025 | Firan Technology Group CorporationDuring 2024, the Corporation invested in existing sites and grew the business organically. FTG is strategically deploying its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. Specifically, FTG accomplished many goals in 2024 that continue to improve the Corporation and position it for the future, including:
Rogers Reports Q4 and Full Year 2024 Results
02/20/2025 | Rogers CorporationNet sales of $192.2 million decreased 8.6% versus the prior quarter resulting from lower sales in the AES and EMS business units. AES net sales decreased by 8.7% primarily related to lower wireless infrastructure sales, partially offset by higher ADAS and EV/HEV sales.
Tel-Instrument Electronics Corp. Reports Financial Results For Third Quarter FY 2025
02/18/2025 | BUSINESS WIRETel-Instrument Electronics Corp. (“Tel-Instrument,” “TIC,” or the “Company”), a leading designer and manufacturer of avionics test and measurement solutions, today reported a net loss of $456K ($0.17) per basic and per diluted share, on revenues of $2.97 million for the third quarter of 2025 fiscal year, ended December 31, 2024.
Northrop Grumman Secures $1.4 Billion in Contracts to Modernize Global Air and Missile Defense
02/17/2025 | Northrop GrummanNorthrop Grumman Corporation secures two significant contracts totaling $1.4 billion to advance air and missile defense capabilities for the U.S. Army and Poland.