- Dark Pulse (OTCPK:DPLS) stated Wednesday that it has signed a letter of intent to acquire India's fibre optic cable and high density polyethylene (HDPE) pipe manufacturer - Om Optel Industries.
- Financial terms of the transaction not disclosed.
- Based in Madhya Pradesh, India, Om Optel Industries is a ISO 9000 and ISO 14000 certified private company engaged into the manufacturing of optical fibre cable, optical patch cords, multilayer polyfilms, HDPE pipes, and injection molding products.
- "Nearly 65% of costs associated with the installation of fiber sensors is a direct result of the optical cables required for these installations. This acquisition will allow the Company to offer highly competitive installation pricing while affording DarkPulse the capability to design and manufacture highly specialized optical sensing cable products," said DarkPulse Chairman and CEO, Dennis O'Leary. "In addition, Om Optel's HDPE pipe manufacturing business allows DarkPulse to offer gas pipeline products both with and without integrated leak detection capabilities," Mr. O'Leary continued.
- Both the parties are also exploring ways to work together in multitude of industries including smart infrastructure.
- Closing of the transaction is to be determined once the definitive agreement goes through.
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