NEW YORK, June 30, 2021 (GLOBE NEWSWIRE) -- Dark Pulse, Inc. (OTC Markets: DPLS) (“DarkPulse” and the “Company”), a technology company focused on the manufacture, sale, installation, and monitoring of laser sensing systems based on its patented BOTDA dark-pulse sensor technology (the “DarkPulse Technology”) which provides a data stream of critical metrics for assessing the health and security of infrastructure, today announced the signing of a Letter of Intent (the “LOI”) to acquire TerraData Unmanned, PLLC a drone based company offering multiple platform capabilities including underwater inspection services (“TerraData”). TerraData offers fully integrated, drone based, geo-rectiﬁed, 3D modeled mapping for industrial applications including transportation departments, water management agencies, and engineering firms. TerraData inspects culverts, bridges, piers, dam and lock systems, water treatment facilities and more.
TerraData provides unique services critical in countering the increasing public safety concern related to bridges, culverts, dams, and similar infrastructure. TerraData’s ROV Inspection Services are needed more than ever as the United States struggles to assess conditions and deterioration of aging infrastructure. Specializing in underwater inspection through their unmanned vehicles (UUV), TerraData mitigates the safety concerns surrounding human divers.
TerraData will join DarkPulse’s growing list of world-class capabilities and the Company’s positioning as the leader in infrastructure sensing and monitoring in all domains, air, land, and sea. “We are excited to be joining the DarkPulse family alongside Remote Intelligence, and Wildlife Specialists. We at TerraData are motivated by the foundation, vision, strategy, and business culture DarkPulse has assembled. Leveraging the expertise and experience of members across these teams, our group is certain to accomplish the intended goal of becoming collectively, a true end-to-end solutions provider” stated TerraData COO Justin Dee.
“As DarkPulse continues to build best in class technology service offerings to the critical infrastructure/key resources market we look for teams such as TerraData to bring experienced personnel and leading-edge equipment allowing the Company to operate AI assisted inspection services in all mediums including land, sea and air.” said DarkPulse CEO Dennis O’Leary. “TerraData’s ability to work in difficult marine environments with accuracy, efficiency, and expert results while eliminating risk to humans is a game-changer,”
Under the terms of the LOI, DarkPulse would acquire 60% of the issued and outstanding voting capital stock or equity interests of TerraData in exchange for restricted shares of the common stock of the Company worth $200,000 with the price per share to be stated in the definitive agreement and $400,000 to be paid within 12 weeks of closing. The parties anticipate that the execution and closing of the Definitive Agreement would occur simultaneously. As a result of the Closing, the Company would become a subsidiary of DarkPulse. Post-closing, we expect that additional cash will be invested in TerraData’s ongoing operations, to be applied towards working capital and expansion of the business.
Final terms of the acquisition will be conclusively determined in a definitive agreement. Completion of the acquisition is subject to customary due diligence and documentation provisions and any necessary share issuance requirements and approvals.
About TerraData Unmanned PLLC
TerraData Unmanned provides unmanned aircraft system (UAS) and remotely operated vehicle (ROV) services and consulting to both commercial and government clients. Using largely proprietary UAS, TerraData provides photogrammetry and modeling services to the mining and construction industries in the form of 3D modeling and mapping, volumetric analysis of stockpiles, and erosion calculations for mine ponds. With use of ROVs, they also support engineering firms and water management districts with the inspection of subsurface structures such as submerged RCP/CMP culverts and the same techniques and hardware are applied to piers, bridges, and alike. They also provide consulting services in the form of aircraft development and testing, UAS assessment and acquisition, and UAS program development and integration. TerraData’s personnel are not only Part 107 Certified but have operated UAS on 5 continents, 10 countries, and more than 10 states during their careers to date. With over 30 years of combined experience in the UAS industry, the TerraData team is often sought out to work with and solve complex problems for commercial, military, and government clients around the world.
For more information, visit https://terradataunmanned.com/
About DarkPulse, Inc.
DarkPulse, Inc. uses advanced laser-based monitoring systems to provide rapid and accurate monitoring of temperatures, strains and stresses. The Company’s technology excels when applied to live, dynamic critical infrastructure and structural monitoring, including pipeline monitoring, perimeter and structural surveillance, aircraft structural components and mining safety. The Company's fiber-based monitoring systems can assist markets that are not currently served, and its unique technology covers extended areas and any event that is translated into the detection of a change in strain or temperature. In addition to the Company’s ongoing efforts with respect to the marketing and sales of its technology products and services to its customers, the Company also continues to explore potential strategic alliances through joint venture and licensing opportunities to further expand its global market position.
For more information, visit www.DarkPulse.com
Safe Harbor Statement
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DarkPulse Solutions, Inc.