Simtrol, Inc. (SMRL.OB) Sells Vistor™ and Scheduler™ Products to Strike Industries
QualityStocks (November 13th, 2009) Writes:
Today, innovative enterprise-class software solutions developer, Simtrol, Inc. , announced the sale of its Visitor(TM) and Scheduler(TM) products to its partner Strike Industries, Inc. The transaction grants Strike Industries the right to modify, advertise, promote, market and license the software.
As per the terms of the agreement, Simtrol will receive a cash payment, a secured note, plus a royalty stream from future sales of the software. The products support and enable software-based management and delivery of prisoner visitation in a truly scalable and cost-effective way.
Oliver Cooper, Simtrol President and CEO, stated, “We are excited to leverage Strike’s deep industry expertise and sterling reputation with their clients to bring our technology solutions to the large and growing corrections market. Strike has made a substantial investment into this product and we have entered into an ongoing financial relationship which is consistent with our strategy of working with our partners to maximize the value
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