Case Studies

Applied DNA acquires RedWeb

by Mark Rowe

Applied DNA Sciences, Inc, the US provider of DNA-based anti-counterfeiting and authentication product, has entered into and closed on an Asset Purchase Agreement with RedWeb Technologies Limited. The US firm purchased assets of RedWeb (“Purchased Assets”) relating to its forensic tagging security system for £400,000.

The assets include RedWeb’s Sentry 500 Intruder Spray System, RedWeb’s Advanced Molecular Taggant Technology, intellectual property and inventory.

The two companies had previously partnered in marketing an anti-theft product, which combines RedWeb’s Sentry Intruder Spray Systems with APDN’s DNA evidentiary marker. APDN will be modifying both the spray system device and taggant technology platforms for global markets.

On the deal, APDN President and CEO, Dr James Hayward, said: “The RedWeb deal is significant for APDN as it will provide new and compatible products that widen our product portfolio at price points that will be attractive to different customer sets. Consolidated supply will decrease the fragmentation in this market and create more powerful brands. Once improved, the outlets for the assets already exist in Europe and the US, where APDN is currently selling its DNA spray systems to protect banks, pharmacies, jewellers, railways and other markets. We intend to expand sales globally and have already put in place global sales channels that increase our market access for these eventual products.”

Website: http://www.adnas.com

Related News

Newsletter

Subscribe to our weekly newsletter to stay on top of security news and events.

© 2024 Professional Security Magazine. All rights reserved.

Website by MSEC Marketing