Cantronic Systems to take majority stake in Chinese security systems company AVINFO


TSX Venture listed Cantronic Systems Inc said it entered into a binding agreement to buy a 58.6 percent stake in Beijing Advanced VideoInfo Technology Co Ltd. (AVINFO) in Beijing, China, for approximately CDN$1.7 million in cash.

The stake will be transferred to the group’s Shanghai based subsidiary Cantronic Security Systems (China) Co Ltd, it said in a statement.

Established in 2002, AVINFO is a profitable digital video platform provider for medium to large-scale networked video surveillance applications, with revenues of CDN$4.9 million in 2007.

Cantronic will also issue up to approximately CDN$1.2 million worth of stock to AVINFO management and management consultants under an earn-out performance based arrangement.

AVINFO's patented proprietary software, products and services compliment Cantronic's patented infrared camera technology and business model. AVINFO's technology platform is a mission critical component of China's ‘Safe City’ projects, which endorses video surveillance across various towns and cities to monitor and control crime, violence and terrorism on a full-time basis, Cantronic added.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Co-Diagnostics expects to win a CE mark-validated...

Co-Diagnostics Inc (NASDAQ:CODX) CEO Dwight Egan tells Proactive the Utah-based company expects to achieve a CE mark validation on its coronavirus detection test from the European Union by as early as next week. Egan says the company is very enthused by the entire process of the development...

2 days, 6 hours ago

2 min read