Diversified completes $3.3-million private placement
SADDLE BROOK, N.J. - Systems integrator Diversified Security Solutions has completed a $3.3-million private placement.
The company sold 553,333 common stock shares at $6 each and has granted investors the right to purchase up to 138,333 common stock shares at $7.60 each over the next five years. The proceeds of the financing will be used to post bonds, which is required in the bidding process for new contracts.
DSS met with 22 institutional investors from late June through July, according to John Baldissera, a spokesperson for the company. Baldissera was unable to comment on how many of the approached investors actually participated in the financing.
Pair of schools pick The Comm Group
ROBINSON TOWNSHIP, Pa. - The Comm Group was recently awarded a pair of contracts to provide security at two Pennsylvania schools.
The company was awarded contracts worth $700,000 in total to install systems at Greenway Middle School, which is part of the Pittsburgh Public School District, and at Brownsville Middle School in Brownsville, Pa.
As part of the contract award, The Comm Group will install card access, security, fire and a computer network infrastructure between the two facilities. Other systems include audio/visual, media retrieval and a CCTV system.
N.J. Motor vehicle project goes to SST
VALLEY FORGE, Pa. - Systems integrator Security Services & Technologies has been awarded a security project by the state of New Jersey worth $2.5 million.
As part of the project, SST will provide a CCTV system for the New Jersey Motor Vehicle Commission. The project includes 45 motor vehicle locations across the state. SST began working on the contract in late June and expects to complete the installation in October.
SST will use cameras from Panasonic, while the digital recording solution will come from March Networks.