Cleartronic, Inc. Announces Strategic Acquisition of Alastar

Rhea-AI Summary

Cleartronic, Inc. ($CLRI) has announced the strategic acquisition of Alastar, a technology platform previously co-owned by Advanced Technology International and the South Carolina Research Authority. The acquisition includes Alastar's trademarks, software, platform, clients, and employees. Alastar, established about ten years ago, specializes in situational awareness software for public safety and mission effectiveness.

CEO Marc Moore highlighted the opportunity to enhance CLRI's ReadyOp platform and add valuable talent. The companies offer complementary capabilities, and CLRI anticipates a smooth transition and integration of Alastar's capabilities into ReadyOp. The acquisition is expected to be accretive to Cleartronic's operations, providing greater programming capabilities and allowing for increased revenue from current clients and enhanced offerings to new clients.

Positive

• Acquisition of Alastar's trademarks, software, platform, clients, and employees
• Enhancement of ReadyOp platform with complementary capabilities
• Potential for increased revenue from current clients
• Opportunity to offer enhanced services to new clients
• Addition of valuable programming talent

Negative

• None.

CLEARWATER, FL / ACCESSWIRE / August 8, 2024 / Cleartronic, Inc. (OTC PINK:CLRI) ($CLRI) ("Company") is pleased to announce the strategic acquisition of Alastar, a technology platform previously co-owned by Advanced Technology International and the South Carolina Research Authority (SCRA). This acquisition includes Alastar's trademarks, software, platform, clients, and employees.

Alastar, established approximately ten years ago, has been a key player in developing, marketing, selling, and implementing an online situational awareness software program designed to enhance public safety and mission effectiveness. The Alastar program is used by clients in South Carolina and across the United States.

Marc Moore, CEO of Cleartronic, Inc., stated, "Alastar represents a great opportunity for us to enhance our ReadyOp platform and add valuable talent to our employee group. Our two companies are very similar and offer complementary capabilities to clients. We anticipate a very smooth transition and the integration of the Alastar capabilities into our ReadyOp platform during the coming months. We also have a few clients in common who have expressed their enthusiasm for our companies becoming one and for our platforms to integrate. Adding these new capabilities to our ReadyOp platform will allow us to increase revenue from our current clients and offer an enhanced package of capabilities and services to new clients."

CLRI believes the acquisition is accretive to Cleartronic Inc.'s operations and will provide greater programming capabilities from the new employees in addition to other acquired assets.

About Cleartronic, Inc. (OTC PINK:CLRI) ($CLRI):

Cleartronic, Inc. (OTCPINK:CLRI), through its primary operating subsidiary, ReadyOp Communications, offers ReadyOp as a Software as a Solution (SAAS) that integrates planning, operations, communications, visual displays, reporting forms, and more in a single web-based platform now in use nationwide and internationally. ReadyOp is used by government agencies, hospitals, ports, airports, first responders, schools and universities, companies, and unified commands for daily operations, alert and response actions, special event planning, incident management, and emergency response and recovery. ReadyOp is simple to use and designed for fast, efficient access to information and the ability to plan, coordinate, direct, and communicate with multiple persons, groups, agencies, and locations. www.cleartronic.com & www.readyop.com.

Safe Harbor Statement

This new release contains statements that involve expectations, plans, or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," should," "expect," "anticipate," "believe," "estimate," "intend," "plan," and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements because of certain factors not within the control of the Company. The Company cautions readers not to rely on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact and Inquiries for Investor Relations:

Larry Reid
(954) 826-2508
lreid@cleartronic.com
www.cleartronic.com
www.readyop.com

SOURCE: Cleartronic, Inc.

View the original press release on accesswire.com

FAQ

What company did Cleartronic (CLRI) acquire?

Cleartronic, Inc. (CLRI) acquired Alastar, a technology platform previously co-owned by Advanced Technology International and the South Carolina Research Authority.

What does Alastar's technology focus on?

Alastar specializes in developing, marketing, selling, and implementing an online situational awareness software program designed to enhance public safety and mission effectiveness.

How will the Alastar acquisition benefit Cleartronic (CLRI)?

The acquisition is expected to enhance CLRI's ReadyOp platform, add valuable talent, increase revenue from current clients, and allow for offering enhanced capabilities and services to new clients.

When did Cleartronic (CLRI) announce the acquisition of Alastar?

Cleartronic, Inc. (CLRI) announced the strategic acquisition of Alastar on August 8, 2024.