Well now, this a big deal. I'll bet there is a lot of head scratching going on. Did anybody see this coming? Like Estrella said, this provides leverage for airship contracts.
The GTC acquisition is intended to transform the Company into a provider of unique turn-key solutions encompassing ground, air and space based communications for customers requiring cost effective, innovative technology solutions." Mr. Clark added, "Space Florida's financial commitment to Sanswire indicates its belief in the Company's vision and any such financing would be used by the Company to consummate the GTC acquisition and grow its UAV and GTC's operations in Florida."
Sanswire CEO Glenn Estrella stated, "GTC is currently working with the U.S. DoD and the Company would hope to leverage these relationships to secure contracts for our Argus UAV line of airships. GTC and the Company also share working relationships with key technical partners and systems integrators which should allow for a streamlined design and commercialization process resulting in high quality integrated products and a swift time to market. We believe the synergies generated by a combined entity are very exciting and would contribute positively to our financial results for 2011. The integration of our and GTC's technology into a complete, turn-key solution should provide an attractive option for government and commercial customers seeking ISR, tracking and monitoring, and communications solutions."
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