LIGATT Security International announced today the intent to purchase Cyber Defense Systems, Inc. (PINKSHEETS: CYDM), a company whose focal point is international homeland defense. This purchase will aid in the distribution of computer security and cyber crime products and services. CYDM is certified to do business with the federal government and has operated in the past under the International Traffic in Arms Regulations (ITAR) agreement. The company plans to utilize ITAR to sell products to National Homeland Security, foreign militaries, foreign militaries and international governments.
CEO Gregory Evans stated, “We plan to pay current shareholders of LIGATT Security shares of the newly acquired company based on a 5-1 ratio, meaning for every five shares owned in LIGATT Security, shareholders will acquire one share in the new company.”
Evans added, “LIGATT Security will continue to strive for company expansion through seeking and incorporating a network of innovators who are equally determined as us to reach new heights in technology. By purchasing Cyber Defense Systems, Inc., we will be able to partner with fellow security experts like William Robinson to be a force against international terror.”
CYDM aims to meet the country’s need for both security at home and abroad. As continued terror attacks occur around the globe, CYDM provides cost effective solutions to support international homeland defense. With the addition of Cyber Defense Systems, Inc., LIGATT Security International will also appoint a new Board of Directors, President and CEO. The acquisition of CYDM is expected to close by August 1, 2009.