Helix TCS To Buy Tan's International Security

Helix TCS Inc HLIX, one of the largest providers of infrastructure services to the cannabis industry in the United States, is expanding its offering in California through the acquisition of Tan's International Security.

What Happened

The acquisition of Tan's, a California-based, veteran-owned security business that has a license to provide physical security guards and perform digital security system installs, is done through cash and stock and is estimated at $800,000.

"The presence of cash and high-value inventory make it essential to employ reliable security services, which means investing a little more to have quality equipment that provides actual value and/or highly trained security personnel onsite. The quality you’re paying for is the ability to have higher resolution images, real-time notifications to law enforcement, active monitoring, and making it generally more difficult to enter a facility in the first place," Helix TCS CFO Scott Ogur told Benzinga.

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Tan's International Security will be integrated into the Helix Security division and brand, according to Ogur. The company will focus on the cannabis industry, but "in the event that we receive an inquiry from a potential client in another industry and believe we can profitably service that client, we will entertain those opportunities."

Why This Is Important

Through acquiring Tan's, Helix TCS continues its expansion in California. This is the second acquisition the company has announced this year. In February, it announced the acquisition of Amercanex International Exchange, which manages an electronic trading platform for the legal cannabis industry.

Helix TCS has a security division, Helix Cannabis Security, which has became the largest provider of security services to Colorado's cannabis industry.

"As each state has chosen to implement rules and regulations individually, it's important that licensees ensure they are compliant with all aspects of the regulations that govern them, including the detailed security requirements," Ogur added.

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