Sanswire Corp. (SNSR) Inks Letter of Intent to Acquire GTC and Leverage Key Partnerships
Sanswire Corp., a developer of lighter-than-air unmanned aerial vehicles (UAVs) and related technologies, today announced its intent to acquire Global Telesat Corp. (GTC), a privately held U.S.-based satellite tracking firm focused on providing customized tracking solutions and ground station construction services to the U.S. Department of Defense (DoD) and its prime contractors. Since its inception in 2003, GTC has grossed more than $27 million in revenues and has had a positive cash flow and net profit every year. GTC is looking to capitalize on increasing world-wide commercial demand for satellite based tracking products and services; upon completion of the proposed…