PALM BEACH, Fla., June 18, 2014 /PRNewswire/ -- Global Digital
Solutions, Inc. (OTCQB: GDSI), a company that is positioning itself
as a leader in providing cyber arms manufacturing and complementary
security and technology solutions, today announced
the acquisition of North American Custom Specialty
Vehicles, LLC (NACSV), a leading builder of mobile
command/communications and specialty vehicles for emergency
management, first responders, national security and law enforcement
operations.
In 2013, NACSV generated revenue of $6.2
million and EBITDA (Earnings Before Interest, Taxes,
Depreciation and Amortization) of $1.06
million and has an expected revenue run rate of between
$12 million and $14 million and
expected EBITDA of between $2.1 million and
$2.4 million by December 31,
2014.
"We're delighted to announce the acquisition of NACSV," said
GDSI's President and CEO Richard J.
Sullivan. "NACSV is a well-respected builder of
security and crisis management-related specialty vehicles.
Very importantly, NACSV has an established client base and a
skilled management team. The company's advanced command and
control and emergency communications capabilities fit perfectly
into GDSI's global growth strategy. We're looking forward to
working together with the NACSV team in the months ahead."
On June 16, 2014, GDSI's wholly
owned subsidiary, GDSI Acquisition Corporation, entered into an
Equity Purchase Agreement with the members of NACSV to acquire
their interests in NACSV in consideration for $1 million in cash and 645,161 shares of GDSI's
restricted common stock at closing on June
16, 2014 and up to an additional $2.4
million of contingent consideration, payable either in
shares of GDSI's common stock, or in cash, through December 31, 2017, as certain milestones and
targets are met.
About North American Custom Specialty Vehicles,
LLC
NACSV specializes in building mobile
command/communications and specialty vehicles for emergency
management, first responders, national security and law enforcement
operations.
These specialty vehicles include:
- Mobile Command Center. A properly equipped mobile
command center is a response and recovery vehicle that facilitates
an agency's ability to expand their command and control
capabilities to a remote location. Full interoperable
communications are a standard for the mobile command center.
For the emergency management agency, the vehicle is an
extension of the fixed base emergency operations center. The
vehicle should be built with long-term deployment in mind but also
be easy to operate in order to allow for quick deployment by
minimum personnel if necessary. The successful design of a
mobile command center will dictate the frequency of use. In
other words, the more difficult to move and operate, the fewer
deployments.
- Command and Control: In the law enforcement
environment, the vehicle can be utilized for command and control as
well as hostage negotiations and even as a mobile precinct. Full
law enforcement dispatch capabilities can be installed as well as
back-up systems to the 9-1-1 Center.
- Incident Command: The fire service unit, properly
equipped, gives the incident commander the visibility and
informational flow along with space for ICS functional personnel
all in one area. A meeting area for functional ICS officers
to share and evaluate information with the IC is necessary.
For more information about NACSV, visit
www.NACSVehicles.com.
About Global Digital Solutions, Inc.
Global Digital
Solutions is positioning itself as a leader in providing cyber arms
manufacturing and complementary security and technology
solutions. For more information please visit
http://www.gdsi.co.
Forward Looking Statements
This press release contains
"forward looking statements". The statements contained in this
press release that are not purely historical are forward-looking
statements. Forward-looking statements give the Company's current
expectations or forecasts of future events. Such statements are
subject to risks and uncertainties that are often difficult to
predict and beyond the Company's control, and could cause the
Company's results to differ materially from those described.
In some cases forward-looking statements can be identified by
terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions. These statements include
statements regarding moving forward with executing the Company's
global growth strategy. The statements are based upon current
beliefs, expectations and assumptions and are subject to a number
of risks and uncertainties, many of which are difficult to predict.
The Company is providing this information as of the date of this
press release and does not undertake any obligation to update any
forward looking statements contained in this press release as a
result of new information, future events or otherwise, except as
required by law. We have based these forward looking
statements largely on our current expectations and projections
about future events and financial trends affecting the financial
condition of our business. Forward looking statements should
not be read as a guarantee of future performance or results, and
will not necessarily be accurate indications of the times at, or
by, which such performance or results will be achieved.
Important factors that could cause such differences include, but
are not limited to the Risk Factors and other information set forth
in the Company's Annual Report on Form 10-K filed on March 28, 2014, and in our other filings with the
U.S. Securities and Exchange Commission.
Contact:
Richard J. Sullivan
561-515-6163
info@gdsi.co
SOURCE Global Digital Solutions, Inc.