PISCATAWAY, N.J., 16 June 2007. PRG Group Inc., a holding company for PRG Systems Inc. and Prime Communications Inc., has submitted a letter of intent to acquire Locatum, a private public safety start up in Lyndhurst, N.J.
Locatum's primary product is a database retrieval system for first responders that provides critical information before arrival at a crisis scene, including building architectural plans.
Electronic access to building plans would enable police and rescue to know the best route by which to reach persons in crisis before presence at the building. Representative buildings for the system include schools, health care facilities, public sector buildings, private apartments, office buildings and even residential housing.
"In a time of global terrorism, school shootings and natural disasters, being able to effectively see inside a building without being there could easily be the difference between life and death," said Uma Pandey, CEO of PRG Group. "The potential for LOCATUM's success speaks for itself, and we hope to secure the acquisition quickly."
PRG Group intends to secure the acquisition by issuance of restricted shares.
