FutureNet Group, Inc. to Acquire the Assets of Smith & Wesson Security Solutions

DETROIT, July 13, 2012 /PRNewswire/ -- FutureNet Security Solutions (FNSS), a subsidiary of Detroit, Michigan based FutureNet Group, Inc., (FNG), announced today that it has reached an agreement with Smith & Wesson Holding Corporation to acquire the assets of the company's perimeter security division, Smith & Wesson Security Solutions, Inc. (SWSS).  FNG Chief Executive Officer, Perry Mehta, stated, "SWSS adds an accomplished Security Solutions company to our existing capabilities that we believe will provide a compelling value to the Federal Government, an existing customer of ours." FNSS expects the purchase to be closed within approximately 30 days, and FNSS plans to continue operating from Nashville, Tennessee.

Wesley Foss and Kenneth Grant, who have over 15 years combined experience at SWSS, will assume the roles of President and Executive Vice President, respectively, at FNSS. Foss commented on the transaction, saying, "The real strength of SWSS, and soon to be FNSS, lies in its trained and experienced staff.  The technical capability of our employees serves to fuel the development of new, innovative products and to support our expanding range of services."

Over the past three years, SWSS has successfully completed over $130 million in perimeter security projects at more than 110 military installations, 16 distinct federal agencies, and a range of Fortune 500 commercial clients. FNG and SWSS have collaborated on past projects, and together have completed over $11 million of turnkey security construction projects for the Federal Government, including installations at Fort Knox, Aberdeen Proving Ground, and Pensacola Naval Air Station.  Mehta said, "Our combination of past performance on projects, along with the strengths of our individual companies, should combine to enable FNSS to better serve our Federal Government and commercial clients." 

About FutureNet Group, Inc. (FNG)

FNG is Detroit, MI based company that provides customized solutions for the environment and infrastructure improvements through innovative technologies.  It is a federal contractor with more than 125 employees located in its Midwest, Southwest, Southeast and East Coast regional offices.  Its certifications include ISO 9001:2008; US SBA 8(a); US SBA HUBZone; several GSA Schedules, etc. In 2010, SBA Region V named FNG CEO Perry Mehta, Minority Small Business Person of the Year.  For four years in a row, FNG was listed on ICIC, Inner City 100 Fastest Growing Companies program founded by Harvard Business School. In 2012 FNG also made the INC 500|5000 list of fastest growing private companies in America for the 4th time. For more information, visit www.FutureNetGroup.com, or call (313) 544-7117.

About Smith & Wesson Security Solutions (SWSS)

Based in Franklin, Tennessee, SWSS is a full-service perimeter security solutions provider.  The company provides a complete range of products and services to a diverse client base in the defense, transportation and petrochemical industries, as well as corporate facilities, airports, Fortune 500 companies, national laboratories, and federal agencies.  SWSS is the manufacturer of the GRAB net barrier system, XMB, ODDS, SW1900, and a range of other proprietary perimeter security products.  The company has been recognized as a "Top 600" Specialty Contractor by Engineering News Record in 2011; received the Government Security News "Best Crash Barriers" award in 2009, 2010, and 2011; and has been recognized for innovation by ASIS International and the American Business Awards.  To learn more about SWSS services and products, call (615) 224-0400 or visit http://www.smith-wessonsecuritysolutions.com/.

SOURCE FutureNet Group, Inc.