OMVS completes acquisition of Robotic Assistance Devices

"We are very excited to have completed the acquisition of RAD," said Garett Parsons, president and CEO of OMVS. "RAD is off to a great start and we believe it has tremendous potential for success." "I look forward to working together with OMVS and having the opportunity to build RAD into a major player in the robotic guard market," said Steve Reinharz, President and CEO of RAD. "We have made great progress to date and with the close of this acquisition we will be well positioned to accelerate our development and deliver significant growth milestones in the near future." RAD has commenced to deploy robots to end users. To date RAD has commitments for 62 robots for total contract values of approximately USD 6 million. RAD currently has signed agreements for 2 POC's with major companies.