TROY, Mich., Feb. 28, 2018 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (OTC Pink:VPER), (Company), an international leader in the LED lighting products & integrated systems markets (Smart Cities), announced today it has signed a Letter of Intent (LOI) to acquire 100% of Global Services International, Inc.
Global Services International (GSI) is a recently established Energy Efficiency Solution Company utilizing state-of-the-art Solid State LED Lighting Systems and Control Sensors, along with Machine to Machine infrastructure that promotes energy conservation while reducing energy consumption costs.
GSI's overall strategy, to be at the forefront of this fast-emerging dynamic global market, begins with assembling a diverse team of proven professionals and committed partners with expertise in each aspect of a vertically integrated Value Supply Chain (VSC). The VSC can be defined as the process of designing, engineering, manufacturing, and implementing LED illumination systems and control sensors to individually address each customers' energy-efficient infrastructure needs.
Based in Chicago, Global Services International (GSI) is currently working on several high-profile public and private partnership projects throughout the State of Illinois. The depth and monetary value of these projects should be announced soon after the Company completes their due diligence and acquisition closing, which is expected within the next 30 days.
Mr. Farid Shouekani, the CEO of Viper Networks, commented: "This acquisition fits well into our strategy of rapidly expanding our presence in the Smart City market and to leverage our collective strengths and capabilities to deliver market leading products and services worldwide.”
According to a new research report "Smart Pole Market by Offering (Component, Software, and Services), Installation Type (New Installation and Retrofit), Application (Highways & Roadways, Public Places, and Railways & Harbors), and Geography - Global Forecast to 2023", the smart pole market is expected to be worth USD 16.65 Billion by 2023, growing at a CAGR of 19.99% annually.
For more information go to www.ViperNetworks.com.
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Investor Relations: Heritage First Capital // Scott Gibson, 407.444.5959
Source:Viper Networks, Inc.