Edison Nation, Inc. Announces Acquisition of TBD Safety, LLC and its Flagship Product Line 911 Help Now®
BETHLEHEM, Pa., Oct. 01, 2020 (GLOBE NEWSWIRE) -- Edison Nation, Inc., a multifaceted ecosystem that fosters innovation and drives IP, media and consumer products, is pleased to inform shareholders that it has acquired TBD Safety, LLC, the owner of the 911 Help Now® Brand of products and associated intellectual property (“IP”).
Under the terms of the Agreement, the Company acquired 100 percent of TBD Safety, LLC (“TBD”), a Delaware limited liability company, through the exchange of common and preferred stock. TBD brings with it an in-depth patent portfolio in the emergency cellular technology space along with several successful consumer-based products.
TBD’s hero product, the 911 Help Now® Emergency Communication Pendant, is a direct to 911 2-way voice communication device. The device features an internal speakerphone that allows the consumer to speak to emergency service providers at the press of a button.
Additionally, the 911 Help Now® technology provides this consumer service for a low one-time fee and no monthly ongoing costs. Edison Nation looks to leverage its expertise in licensing to expand on both product offerings and license opportunities. TBD currently has one license in place with a leading cellular development company for a revolutionary emergency phone focused on simple and quick connection to emergency services.
“TBD has laid the groundwork for the expansion of their IP into other form factors and devices. Building off their current product offering, we will leverage our experience in manufacturing and licensing to increase revenue while maintaining low costs,” said Christopher Ferguson, CEO.
TBD Safety’s current additional offerings include a 6-in-1 Auto Rescue Tool that includes features such as two-way voice communication, an emergency power bank, LED strobe and more. TBD’s newest generation of device, the 911 Help Now® Plus, combines the primary two-way voice communication function with additional flashlight/strobe light combo and an internal decibel alarm.
TBD’s MySafe brand, featured on live shopping, is also included in this transaction. Leveraging the intellectual property of the 911 hero product, the MySafe brand has allowed for the expansion of additional distribution channels and features. The MySafe brand offers both a pendant and auto product, with the pendant being waterproof.
“In 2020, we have learned to expect the unexpected. What that has done is increase consumers awareness and preparedness for whatever the world brings next,” said Ferguson. “With today’s acquisition, we continue to fill consumers needs with simple, easy to use, cost effective solutions to today’s many fears….in this case, the ability to contact 911 anywhere, anytime.”
About Edison Nation, Inc.
Edison Nation, Inc. (EDNT), is a multifaceted ecosystem which fosters innovation and drives IP, media and consumer products. Edison offers innovation sourcing, product design, sales, manufacturing, and fulfillment services. Edison Nation’s model is to source innovative ideas to launch internally or license to brand partners. Edison Nation hopes to leverage its television property, Everyday Edisons, to become the recognized leader in the innovator community. For more information, please visit www.edisonnationmedical.com
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing the Company's views as of any subsequent date. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including consumer, regulatory and other factors affecting demand for the Company's products, any difficulty in marketing the Company's products in global markets, competition in the market for consumer products, any inability to raise capital to fund operations and service the Company's debt. Additional information that could lead to material changes in the Company's performance is contained in its filings with the SEC. The Company is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.
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Source: Edison Nation, Inc.
Released October 1, 2020
Released October 1, 2020