Enters into Purchase Agreement for the Acquisition of LogicMark, LLC.

MELBOURNE, Fla. - May 18, 2016 (Investorideas.com Newswire) NXT-ID, Inc. (NASDAQ:NXTD) (NXTDW), a company focused on the growing mobile commerce market announces it has entered into an interest purchase agreement to acquire 100% of the membership interests of LogicMark, LLC, a leading provider of unmonitored personal emergency response devices (PERS).

As per the terms of the agreement, NXT-ID, Inc. will acquire LogicMark for $20 Million in cash, with an anticipated closing date no later than June 30, 2016, subject to customary closing conditions, including a financing contingency. In addition, LogicMark members will be paid an earn out based on achieving certain performance goals within the next 18 months. The financing for the acquisition will be a combination of senior secured debt and equity.

The audited financial statements for LogicMark for the year ended December 31, 2015 showed revenues of $11.1 million and pre-tax net income of $3.1 million. The Company has a staff of 22 full-time professionals, 3 part-time professionals, and 5 contractors.

Gino Pereira, Chief Executive Officer of the Company, said, "This accretive acquisition fits into our strategy of utilizing our core competencies to create diverse new opportunities for the Company."

Kevin O'Connor, Logicmark's President, added, "We are excited to become a part of NXT-ID Inc. and leverage their technology and channel partnerships to expand our product portfolio and markets."

NXT-ID, Inc. plans to integrate its voice biometric technology as well as fall detection sensors and miniaturization skills to future versions of LogicMark products. In addition, the company believes it can potentially enhance the retail presence of LogicMark products.

Mr. Pereira also went on to say, "We are utilizing additional resources and consultants to assist with LogicMark integration and management as well as retaining key LogicMark staff. We remain very focused on delivering the new WorldVentures DreamTrips™ smart cards which are currently in pre-production and will be ready for field testing in the coming weeks. We expect to make our first production deliveries to WorldVentures in July 2016."

Logicmark was advised through the sale by Livingstone, an international mid-market M&A and debt advisory firm.

Read this release in full at http://www.investorideas.com/CO/NXT/news/2016/05181.asp

About NXT- ID Inc. -Mobile Security for a Mobile World

NXT-ID (NASDAQ:NXTD) is an emerging growth technology company that is focused on products, solutions, and services for security on mobile devices. Our core technologies consist of those that support digital payments, biometric identification, encryption, sensors, and miniaturization. We have three distinct lines of business that we are currently pursuing: mobile commerce, primarily through the application of secure digital payment technologies; biometric access control applications, and Department of Defense contracting. Our initial efforts have primarily focused on the development of our secure products for the growing m-commerce market, most immediately, a secure mobile electronic smart wallet, the Wocket®. The Wocket® is a smart wallet, designed to protect your identity. www.nxt-id.com, www.wocketwallet.com

Product images are available for media at: http://press.nxt-id.com

Forward-Looking Statements for NXT-ID: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

NXT- ID Inc Contact:

Corporate info: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media:

D. Van Zant

800 665-0411

This email address is being protected from spambots. You need JavaScript enabled to view it.

Visit this company: nxt-id.com; 3d-id.net; wocketwallet.com/

More info on NXTD at Investorideas.com Visit: http://www.investorideas.com/CO/NXT/

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders

Sign up for free news alerts

http://www.investorideas.com/Resources/Newsletter.asp

Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: As of October 1, 2015 NXT-Id renewed for one year –five thousand per month and fifteen thousand 144 restricted shares for PR, media and marketing. http://www.investorideas.com/About/Disclaimer.asp and http://www.investorideas.com/About/News/Clientspecifics.asp