On May 3rd, 2010, Cantronic Systems Inc. announced that it has entered into a definitive agreement to acquire Actiontop Electronics (consisting of 100% of equity interest of both Actiontop Electronics (Shenzhen) Co. Ltd. and Actiontop Electronics (HK) Co. Ltd.), a privately owned manufacturer of high-speed video surveillance cameras and related products. This acquisition is valued at C$3,382,400 and expected to close by the end of June, 2010.
According to James Zahn, President and CEO of Cantronic, Actiontop? high performance technology enhances their current end-to-end security and surveillance system product offerings. The action reflects their commitment to strengthening competitive position by consolidating best-in-class technologies in addressing the growing market demand in China, driven by government programs for national video surveillance.
(Source: www. marketwatch.com)
