Wifi Revolution

MSGI Security Solutions Inc. (MSGI), a global provider of proprietary security solutions to commercial and government organizations today announced an expansion of its mission critical wireless product offerings by taking a significant minority investment in Current Technology Corporation.

 

Current Technology recently entered a deal to acquire a 51 percent stake in Celevoke, Inc. Celevoke has integrated Telematics and Global Positioning Systems (GPS) with sensing technology which enables users to remotely monitor, track, control and protect a wide variety of asset classes.

 

Further improvement on this agreement is expected to start from February 1, 2008.

 

Jeremy Barbera CEO of MSGI said, “We have been developing proprietary wireless solutions for real-time protection since entering the homeland security sector several years ago and find the Current Technology/Celevoke team to be a remarkable strategic extension of our business”.

 

He also commented, “MSGI is all about the mitigation of risk - the effort to reduce loss of life and property by lessening the impact of disasters or preventing them entirely. We expect this transaction to be both revenue and margin enhancing. The company plans to review guidance and establish improved estimates for 2008 based on the expectations derived from our new venture.”

 

Current Technology CEO Robert Kramer stated, “I believe this new partnership will prove to be highly synergistic. MSGI brings deep institutional knowledge and significant high-level industry contacts worldwide. Celevoke’s CEO is a visionary, with the ability to lead the company to new heights. As demonstrated by our proposal to move the company’s domicile from Canada to the United States, Current Technology is totally committed to Celevoke’s future success.”

 

MSGI acquired 25 million shares of common stock of Current Technology at $0.10 per share and warrants to acquire 25 million additional shares at $0.15 per share.

 

As part of the strategic investment, Current Technology has agreed to outsource 25 percent of its GPS asset-tracking business to MSGI effective immediately for a period of three years. MSGI will also be given a non-exclusive worldwide license and an exclusive license in the US intelligence, military and commercial security sectors by Celevoke.

 

Additionally, the agreement allows MSGI to appoint one member to the Current Technology Board of Directors.

 

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