Security Financing Services Inc. (Pink Sheets: SCYF) is searching to expand its business by signing a Letter of Intent to acquire SatMAX business unit. SatMAX is a business unit of Eagle Broadband Inc. (OTCBB: EAGB), a national provider of IPTV products. SCYF is focused on providing end-to-end network solutions for customers, ranging from small homeowners to large commercial enterprises.
SatMAX creates satellite communications hotspots, which gives multiple callers the ability to use wireless Iridium-based satellite telephones, both indoor and outdoor, without losing a signal. Thus, customers will be able to use their satellite phones or data terminals to make multiple calls within SatMAX’s area from anywhere in the world.
Don Bresina, chairman of Security Financing Services, said this acquisition will bring a big change in the company’s technology and product lines, as well as enable it to expand business.
“Eagle has done a terrific job of launching the SatMax line,” Bresina said in a press release. “This product will represent a step-change in the capabilities of SFS and its product lines, well-positioning us to work with U.S. Departments of Homeland Security and Defense, industrial and commercial users, and governmental units across the globe.”
Dick Sanger, vice president of administration for Eagle Broadband, echoed those words, commenting he is very excited about the recent acquisition of the SatMAX business unit.
“We are pleased to work with the Security Financing Services team on this transaction,” Sanger continued.
Eagle Broadband is a national provider of IPTV products through two major divisions: its IPTV division, which provides direct access to more than 250 channels of high-demand programming from through its IPTV Complete; and the company’s IT Service Group, a full-service integrator offering a complete range of network technology products including VoIP, remote network management, network implementation services, and IT project management services.
The IT Service Group is the division that includes the SatMAX product offering.
In addition to offering network solutions, Security Financing Services also provides financing services to alarm dealers and integrators, operates and manages a portfolio of alarm monitoring accounts throughout Texas, and installs and monitors digital video surveillance networks for government, industrial and commercial application.
