Arecont Vision^® announced that it has executed an asset purchase agreement with an affiliate of Turnspire Capital Partners, LLC under which Turnspire will acquire substantially all of the Company’s assets. As previously announced, the Company has initiated proceedings under chapter 11 of the United States Bankruptcy Code in the District of Delaware to facilitate the Purchase Agreement and substantially reduce its debt. The Company has also filed a bid procedures and sale motion with the Court. The Turnspire bid will be subject to an auction at which it will be subject to higher and better offers, and requires Court approval.