News!! Edison Nation is Pleased to Announce the Closing of the 911 Help Now® Brand and Associated Intellectual Property Acquisition
Download as PDFOctober 20, 2020
BETHLEHEM, Pa., Oct. 20, 2020 (GLOBE NEWSWIRE) -- Edison Nation, Inc., a multifaceted ecosystem that fosters innovation and drives IP, media and consumer products is pleased to inform shareholders that it has closed the acquisition of TBD Safety, LLC, the owner of the 911 Help Now® Brand of products and associated Intellectual Property.
911pendant
The 911 Help Now® Plus is the perfect device for emergency communications. With the push of one button, the user is directly connected to the local 911 operator.
On October 16, 2020, the Company closed on its previously announced Purchase and Sale Agreement with TBD Safety, LLC, the owner of the 911 Help Now® Brand and associated Intellectual Property. The addition of the 911 Help Now® Brand and associated products expands Edison Nation’s product line into the safety and security sector, an industry that continues to grow in today’s climate.
Featured nationally on Live Shopping, as well as www.911helpnow.com, the 911 Help Now® products will allow the Company to recognize revenue immediately. Led by the hero product, the 911 Help Now® Emergency Communication Pendent, the Company will leverage its distribution channels to expand the brand onto Amazon as well as retail channels. The final agreement includes payment based on TBD Safety, LLC achieving its stated revenue forecast of $10,000,000 in sales for fiscal year 2021. This forecast includes sales of both the primary emergency communication products as well as the technology license currently in place.
An additional benefit of the acquisition of the Intellectual Property is the included license of technology to a leading cellular development company. Emergency Cellular Solutions, the brand of the license entity, has developed the product as a solution for consumers seeking an easy to use cell phone and medical alert device all-inclusive within a single unit. The Company anticipates the product’s launch during the first quarter of 2021 in partnership with a leading cellular carrier.
The potential revenue stream from the cellular technology license is an attractive component of our acquisition,” said Chris Ferguson, CEO. “The growing focus on safety and security makes this brand and future product development a compelling piece of our overall product strategy.” And
