Universal Power Industry Corporation Agrees to Acquire Technology Start-Up WavDrone, LLC

PALO ALTO, Calif., Sept. 26, 2019 /PRNewswire/ -- Universal Power Industry Corporation (OTC: UPIN) today announced that they have agreed to acquire WavDrone, LLC a Palo Alto startup that specializes in drone technology.

The start-up (one year old) technology company will be wholly owned by Universal Power and will continue the development of certain drone software and technology primarily for use by the government and military.

The terms and conditions will be announced upon the completion of all legal and governmental approvals and requirements. The respective companies expect the acquisition to be completed no later than October 7, this year.

About Universal Power Industry Corporation:

Universal Power Industry Corporation (UPIN) is a diversified holding company that owns, invests and or manages select businesses, and on special opportunities will provide financing solutions to companies at various developmental stages. Our business objectives cover a wide range of sectors from consumer/industrial products, technology research, development/startups. Please follow us on social media for additional updates at Facebook, Twitter and OTCMarkets.

Statements contained in this release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

CONTACT INFORMATION  

Universal Power Industry Corporation
1-800-837-5641

SOURCE Universal Power Industry Corporation