SOURCE: View Systems, Inc.
BALTIMORE, MD--(Marketwired - May 14, 2013) - View Systems, Inc. (OTCBB: VSYM), a rapidly growing provider of security products for schools, event planners, banks and government institutions, announced today that Dr. Leo A. Guthart has made an investment directly into View Systems. Dr. Guthart's purchase of shares from View Systems will allow View Systems to accelerate its sales efforts and provide funds for new product development.
Leo A. Guthart manages Topspin Partners, a venture capital fund, and Topspin Partners LBO, a buyout fund, both based on Long Island. Prior to founding Topspin Partners, he had a long career in the security business as CEO of Pittway Corporation's Security Group. In that role, he led the largest manufacturer of security equipment in the world, sold to Honeywell International in 2000. For Honeywell, he served as Chairman of its Security and Fire Solutions Group. He also was a co-founder of Cylink Corporation, an early innovator in the field of computer security. Guthart serves as Chairman of Security First Corp., a developer of integrated security cryptographic chip solutions.
He is a graduate of Harvard College where he received a BA in physics, and of Harvard Business School where he was a George F. Baker Scholar and received both an MBA and a Doctor of Business Administration with a specialty in corporate finance. Dr. Guthart served on the faculty of Harvard Business School and was a Ford Foundation Fellow performing research on corporate share repurchases. His articles on share repurchases have been published in the Harvard Business Review, Financial Analysts Journal and Journal of Finance.
Dr. Guthart is a member of the Hofstra University Board of Trustees, and was Chairman from 1993 to 1996. He serves as Treasurer of Cold Spring Harbor Laboratory and is a member of its Executive Committee, an Overseer of Hofstra North Shore-LIJ School of Medicine, and a Trustee of the Stony Brook Foundation. He was a Founding Director of the Long Island Research Institute and was a Trustee of the Acorn Funds, a leading growth-oriented family of mutual funds. He is also a Director of AptarGroup Inc. (NYSE), an international producer of dispensing valves, pumps and closures for pharmaceuticals and perfumes. Dr. Guthart is a member of the Long Island Technology Hall of Fame.
Dr. Martin Maassen, Chairman of View Systems, stated: "Leo Guthart is an Icon in the security industry. We are delighted that he has chosen to assist and give direction to our existing business and technology. He will evaluate and present various opportunities and alternatives. His knowledge and expertise will propel us to the next level of success. View's strategy to acquire and merge with other companies and products is greatly enhanced. We are confident that, with Leo Guthart's guidance, we can finance our growth and enhance shareholder value."
About View Systems: View Systems, Inc. manufactures and installs weapons detection identification systems, video management platforms and tele-data communication networks targeted towards correctional facilities, schools, courthouses, government agencies, event and sports venues, and commercial businesses. More information can be found at www.viewsystems.com
Forward-Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.