SOURCE: View Systems, Inc.

August 18, 2015 08:30 ET

View Systems in Discussions With Three M&A Candidates and Reviewing Letter of Intent

BALTIMORE, MD--(Marketwired - Aug 18, 2015) - View Systems, Inc. (OTC: VSYM), a manufacturer and installer of non-invasive weapons detection systems for a wide range of government and commercial use, today announces an update regarding ongoing discussions with three companies regarding acquisition or merger. We have received a Letter of Intent from another one of the candidates. The particular company is a profitable, privately owned company with multiple locations and an annual revenue of $7 million. The Board of Directors is reviewing the offer.

"We are actively reviewing M&A candidates and are working through careful due diligence with each company in consideration. Finding and moving forward with an M&A isn't an exit from our current focus of operations, but rather a strategic path toward larger market penetration with our ViewScan product," says View Systems Chief Executive Officer Gunther Than.

"We are highly focused on acquiring or merging with someone to take ViewScan to higher level, but we do so while keeping shareholder interest at the absolute forefront of our progression," states Than. "With that in mind, we would like to note that after thorough due diligence our team decided the intended previously announced merger candidate would take away from the impact we expected from an ideal merger/acquisition partner. Meanwhile, we will continue to sell and install our ViewScan system and work to increase shareholder value."

About View Systems
View Systems, Inc. manufactures and installs weapons detection identification systems, video management platforms and tele-data communication networks targeted at a broad range of government and commercial users. 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.

Contact Information

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    View Systems
    410-242-8439