| Electronics Line 3000 Ltd. is a supplier of wireless security and remote management systems |
"RISCO's intent is to maintain Electronics Line 3000's independent operations and product offerings and to grow the company to become the residential arm of RISCO Group, Inc. while expanding the product portfolio into video and management solutions together with major partners worldwide," said Moshe Alkelai, RISCO Group Ltd. Chairman and CEO. Electronics Line 3000 provides unique solutions by partnering with leading monitoring companies, distributors and residential service providers.
"We firmly believe Electronics Line 3000 has a bright future under the leadership of the RISCO Group team and will benefit significantly from the many potential synergies that exist between Electronics Line and RISCO," said Bob Marbut, Co-Managing General Partner of Argyle Global Opportunities, formerly Electronics Line 3000's largest shareholder.
The acquisition will further expand RISCO Group, Inc.'s broad range of security products and integrated systems |
As part of the acquisition, Mr. Marbut will hold the position of Chairman at RISCO Group, Inc. adding his industry experience and key relationships to facilitate the growth of RISCO's business in the U.S. market.
The Electronics Line acquisition, along with a newly announced RISCO Certified Integrator Programme, will further expand RISCO Group's sales and presence in the U.S. security market. RISCO Group Inc.'s activities at ISC West will underscore that swift market expansion. A champagne reception at their new 2,000-square-foot booth will welcome visitors on the first day of the show (Wednesday, March 24th).
"This acquisition is a great opportunity for RISCO Group, Inc. Our integrators and customers will now have access to Electronics Line 3000's technological innovations and high-quality products, which perfectly complement and expand our current offerings," said Len Friedman, President and CEO, RISCO Group, Inc. "The acquisition is an exciting new element in our ongoing strategy for success in designing, developing and implementing end-to-end security systems in the U.S. market."