QWICK MEDIA ANNOUNCES ENTRY INTO AGREEMENT TO ACQUIRE SFE GLOBAL
Qwick Media Inc. is pleased to announce that it has signed a share purchase agreement with SFE Global Inc. pursuant to which Qwick Media proposes to purchase all of the issued and outstanding securities of SFE Global. Closing of the proposed Transaction is expected to be on or before March 15, 2019.
SFE Global, an environmental services provider to city and county water and sewer infrastructures headquartered in Washington State, provides services in underground water, storm and sanitary lines throughout the western United States and holds a contractor’s license for California.
Qwick Media, a company located in Burnaby, British Columbia, has developed proprietary software platforms (QwickManager) which is designed to run private to public devices such as interactive and digital DOOH displays including design and manufacturing of self-serve POS (point of sale) kiosk networks.
The Transaction brings together two companies and their senior leadership teams with complementary software, services and manufacturing that will expand the growth potential for both companies. Together, these two cloud based software network platforms combined with manufacturing and services capabilities allows both companies to offer North American combined services in the growing Smart City technologies through IOT applications.
Networks play a key role in helping to connect cities’ assets to applications, city service providers and, ultimately, citizens. Networks connect systems, machines, devices, sensors and facilities. As a result, they provide a medium for real-time communication, information-gathering, processing and sharing. Converging all of these networks on a single connectivity platform has many advantages.