HDS International Corp (OTCMKTS:HDSI) a technology development firm disclosed that it will take the services of Source Capital Group, Inc. Vik Grover, the Senior MD of Investment Banking with SCG possess twenty years of experience in the telecom sector.
He has been working with the company‘s new CEO Paul Rauner for more than six months to source the distribution deals, the capital, and mergers and acquisitions to bring the dedicated emergency management software to market. Source Capital played key role in negotiating the Strategic Expansion Deal that resulted in Rauner’s controlling position with HDS International set in March 2015.
In the strategic expansion deal announced few days ago, the two parties supported a phased plan that will vest SirenGPS activities in HDS International upon placement of $600,000 or more in financing to be sourced before September 12, 2015.
Source Capital will take care of the structuring for this investment in HDS International and is considering all options. It is currently in talks with institutional investors and settling a total fund commitment of over $4 million, which is expected to make the SirenGPS license to HDS International exclusive and allow the firms to move forward on a growth path.
Rauner further stated that a common approach in software development is to launch an unfinished product. It may first seem as a go-to-market plan that shares personal messages. However, there is no space in public safety for trying the products that don’t work. After completion of mentioned period and iterative prototypes, the software has fulfilled defined standards.
The time taken was longer than anticipated but the results were better than expectations. HDS International is now ready to take the solutions to market. The company is excited to work with Source Capital to combine the hard work with the required resources to translate enhanced emergency management software a reality.