NXT-ID, Inc., a company focused on the growing mobile commerce market announces it has completed its acquisition of LogicMark, LLC, a leading provider of unmonitored personal emergency response devices.

NXT-ID, Inc. has completed its previously announced acquisition of LogicMark for $20 million and $900,000 of stock and warrants. In addition, LogicMark's selling equity holders may be paid an earn-out of up to $6.5 million based on achieving certain performance goals within the next 18 months. The acquisition was financed with a $15 million senior secured debt facility provided by ExWorks Capital Fund and $4.5 million of preferred equity provided by several institutional investors.

Aegis Capital Corp. served as exclusive placement agent for the debt and equity financing, as well as financial advisor to NXT-ID.  Livingstone, an international mid-market M&A and debt advisory firm, served as advisor to Logicmark.

For the year ended December 31, 2015 LogicMark had audited revenue and net profit of $ 11.1 million and $ 3.1 million respectively. For the three months ended March 31, 2016, LogicMark had unaudited revenue and net profit of $ 3.3 million and $ 1.0 respectively.

Founded in 2006, LogicMark has revolutionized the personal emergency response system (PERS) industry by incorporating patented two-way voice communication technology directly in the medical alert pendant. With a focus on innovation, LogicMark provides a unique offering of medical alert systems that contribute to improving the quality of life for those choosing to continue to live independently.