China Security & Surveillance Technology (CSR) to Acquire Santachi Video Technology For $21.9M
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China Security & Surveillance Technology (NYSE: CSR) announced it has signed a letter of intent to purchase 100% ownership in Santachi Video Technology Co., Ltd, a leading security solutions provider for highways and railways in China for approximately $21.9 million. Completion of the transaction is subject to negotiation of a definitive equity transfer agreement that will be subject to a number of closing conditions, including regulatory approval.
In addition to its leading position in highway and railway security, Santachi has also won various key government projects including Safe City projects throughout China.
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