WPCS to Address $3.50 per Share Buyout Offer (WPCS)

WPCS International Incorporated WPCS has acknowledged a Schedule 13D/A filing made jointly by Riley Investment Partners L.P., Riley Investment Management LLC, B. Riley & Co., LLC, Bryant R. Riley, Lloyd I. Miller, III and Telecom Global Inc. dated August 27, 2010. Andrew Hidalgo, Chairman and CEO of WPCS International Incorporated, commented, "Within the 13D filing, the Riley Group has expressed an interest in acquiring 100% of WPCS in a cash/stock transaction for $3.50 per share whereby WPCS shareholders would retain equity in the combined entities of WPCS and Telecom Global, Inc. or as an option, the Riley Group would offer to acquire 100% of WPCS in an all cash transaction.