GelStat acquires key intellectual property, assets from Duos Technology

GelStat Corporation (GSAC) announced that its recently formed subsidiary, GSAC Engineering, has concluded the purchase of certain key intellectual property assets from Duos Technologies Group (DUOT). The acquisition included foundational operating environment software, infrastructure, engineering designs, and processes with technology management supporting three medium to high-security facilities being serviced by GSACe. This launch is the first phase in a series of calculated steps being taken by GSACe to establish itself as a competitive alternative in the industrial security market. GSACe plans to combine the acquired assets with certain technological capabilities it has already developed in-house to deploy in an updated solution later this year with a designated customer. “Our acquisition of this technology is a key step in the previously announced transition of the Company,” said GelStat CEO Javier Acosta. “We anticipate making further announcements in the near future which will further solidify our entrance into this market and pave the way for revenue growth and profitability in the next few years.”