ATWEC Technologies, Inc. (OTCPK:ATWT) signed a binding letter of intent to acquire Safebus Technologies, Inc. on August 24, 2020. Safebus‘s shareholders will receive cash and stock in the deal. SafeBus will become a wholly-owned subsidiary of ATWEC Technologies. ATWEC Technologies will immediately enter the US school bus transportation market, offering the SafeBus Alert™, SafeBus ETA™ and SafeBus LiveVue™ product lines. The transaction is subject to pending final shareholder approvals and the transaction will be released with the final agreement and plan of merger which is expected to close in early September, 2020. ATWEC Technologies, Inc. (OTCPK:ATWT) completed the acquisition of Safebus Technologies, Inc. for $ 1.96 million on December 16, 2020. As part of the consideration, ATWEC paid $0.56 million in cash and 80 million shares of restricted common stock in the deal. SafeBus Technologies will become a wholly owned subsidiary of ATWT.