Kustom Entertainment said it completed the sale of its legacy video solutions business to Cycurion for $6.1 million in cash, a secured note and preferred equity.
Cycurion, Inc. has closed the acquisition of the legacy video solutions business previously identified as the Digital Ally Video Solutions Business, adding more than $5 million in revenue and over $1.2 million in EBITDA and lifting its annual revenue run rate to about $30 million. Kustom Entertainment said it completed the sale to Cycurion for $6.1 million, consisting of $1.25 million in upfront cash, a $4.25 million secured promissory note, and $600,000 in preferred equity. The divestiture marks Kustom Entertainment's exit from the legacy video solutions business.