LA JOLLA, CA — (Marketwired) — 02/14/17 — AV1 Group, Inc. (OTC PINK: AVOP), is pleased to announce that the Company has successfully acquired 100% of X-Fire Smart Systems; provider of LED lighting, Smart Grid Technology, Wireless Controlled Systems, Smart Parking Meters, Charging Stations, Utility Meters, and Picocell Technology, in an advantageous equity-based transaction.
“Because there is such diversity in the marketplace, we have collaborated and explored how to best expand and diversify with a spectrum of revenue generating divisions. X-Fire brings cutting-edge technology, a proven business model, and considerable revenues into the Company. We are very pleased that we can now call X-Fire Smart Systems an AV1 Group Wholly-Owned Subsidiary,” stated Bryen Beglinger, Chief Executive Officer of AV1 Group, Inc. The global “Smart Cities” market is expected to increase from about $411 billion in 2014 to $1.1 trillion by 2019, at an annual growth rate of 22.5 percent, according to a “Smart Cities Market” report by Markets and Markets.
By virtue of revenues exceeding $2.4 Million over the past two years, this acquisition brings a strategic revenue producing asset to AV1 Group’s diversified portfolio of emerging companies. Having launched 5 years ago, X-Fire brings to the table the ability to capitalize on technologically advanced “Smart” solutions, enabling the Company to expand its reach into an advantageous range of new sectors. For more information please visit http://xfiresmartsystems.com/
According to the United Nations Human Settlements ProgramSmart Cities use recent advances in communications and digital technologies, data sharing and analysis, and intelligent design to make cities more livable, resilient, economically sound, and sustainable. Smart sensors and embedded devices — from street lights to power meters to traffic signals and beyond — work together with an open, connected infrastructure to create a distributed layer of intelligence that can save energy, streamline operations, and make citizens feel happier and safer. The legalization transforms our market, we have discovered niche venues primed for success based on significant newly evolving demands, and we are resolved to create an environment poised to thrive congruently, on a corporate level and in the public market alike,” stated Bryen Beglinger, Chief Executive Officer of AV1 Group, Inc.