Norcross-Based Simtrol Licenses Software to Strike Industries for $500K Plus Royalties - CBL

By Citybizlist Staff

NORCROSS -- Simtrol Inc. has licensed its Simtrol Visitor and Simtrol Scheduler software to Strike Industries Inc. in a deal valued at $500,000, plus royalties, according to an 8-K filing with the U.S. Securities and Exchange Commission.

Norcross, Ga.-based Simtrol (OTCBB: SMRL) makes software for businesses to manage a variety of devices used across large networks, including digital displays, security cameras, interactive whiteboards, digital video recorders, projectors and microphones.

Strike, a women-owned company based in Pompano Beach, Fla., specializes in video, voice and data communications and security electronics.

The deal calls for $100,000 cash and a $400,000 note payable over a five-year term. Simtrol will receive 45 percent royalty on all sales of Visitor and Scheduler until the note is fully paid. Afterward, Simtrol will receive 10 percent.

8-K filing: http://tinyurl.com/yfmk7jg

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