March 11, 2016

Bits Smart Strip, LLC (CA) dba BITS Limited announces the acquisition of certain assets, including all intellectual property and patents from Bits Limited, Inc. (NY), inventor of the Smart Strip® line of Advanced Power Strips. The sale was effective January 1, 2016 and closed on February 27, 2016.

The Smart Strip® was developed to save energy by turning off connected electronic equipment while in stand-by or sleep mode thus eliminating “vampire” current and saving electricity and money. Utilities across the county recognize the value of this energy-saving power strip and the BITS Limited Smart Strip® was the basis for Tier 1 Advanced Power Strips now in wide use.

Management of BITS Limited (CA) will continue with the current officers including Kurt Markshausen, President and CEO, Eric Kramer, VP & CFO, and Scott Wilson, VP Sales. This team formed BITS Smart Strip, LLC in July 2015 with a mission to provide both Tier 1 and Tier 2 Advanced Power Strips and other energy-saving products to the utility market and is focused on service and value.

For more information, contact Scott Wilson at scott.wilson@bitsltd.net or Kurt Markshausen at kurt.markshausen@bitsltd.net .