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One Blimp Firm Buys Another

Defense Daily Staff Defense Daily Staff
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World Surveillance Group Inc. [WSGI], a developer of aerostat systems, yesterday said it has acquired another aerostat manufacturer, Lighter Than Air Systems Corp. (LTAS), giving it additional products and technical capability. WSGI said it is paying $250,000 in cash and 25 million shares of its common stock for LTAS, which amounts to an equity value of $750,000. The deal includes an earn out provision based on sales. “We are confident the acquisition of LTAS will improve our position as a…

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