DefenseTech to take over SGG, says CEO Wessman

Security Industry news Today Reporting…..

The Israel-U.S. intelligence communications and technology company, DefenseTech Systems Group, announced that it will acquire security start-up SGG (Securitas Global Group), an intelligence communications firm, for an undisclosed amount.

In a statement from DefenseTech, it said SGG’s board had already approved the measure.

DefenseTech Chairman & CEO David Wessman will become leader of the combined businesses, with SGG’s CEO Max Baumann taking on another role.

The transaction should be completed by December 1, 2010, said Wessman.

“DefenseTech is one of the new kids on the block”, Wessman said in his statement, “But this deal allows us to come out strong with a new agenda and a combined vision that will create one of the best private intelligence communications networks in the business”.

SGG’s Max Baumann has been embattled over a recent gaffe that placed that company’s airship development project in Jeopardy, according to sources close to the deal.

This deal will place all SGG divisions under DefenseTech’s structure.


About securityteknews
Ralph Thomas is author of over 32 books on various aspects of conducting investigations, founder and director of The National Association Of Investigative Specialists,CEO of Thomas Investigative Publications, Inc, The Spy Exchange And Security Center and SpyTek Wholesale Imports. Thomas is a member of the Executive Security Council of Griffith Colson Intelligence Service, a private intelligence agency. Thomas's latest project is NAIStv on the Griffith Media TV Network. He has also developed A Native American Store in Georgetown Texas called Tribal Impressions. You can review his person home page off of: http://www.pimall.com/thomas

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