Homeland Security Capital Corp sells subsidiary
Looks like at least a few people in the industry decided to work the last week of summer. Homeland Security Capital Corp., the busy company run by former baller/Congressman Tom McMillen, completed on Aug. 31 the sale of its subsidiary, Security Holding Corp., which it just bought about a year ago. Is that like buying a house, painting it, and flipping it? Well, I guess that's what HSCC has said it was going to do all along: consolidate the industry and make a few bucks doing it. Nothing wrong with that, I suppose. Also, what to make of the buyer, Vuance? Starting out in asset tracking, its quickly built a security arm with the addition of Security Holding, which contains Security Inc., most notably, an access control outfit. Based in Israel, Vuance has a U.S. subsidiary called SuperCom (sorry, no link), based in McLean, Va., naturally.