Optium Cyber Systems Inc. entered into a non-binding letter of intent to buy a cybersecurity firm.

The letter of intent provides the basis of a transaction where Optium will buy 100% ownership in exchange for restricted stock with the target acquisition being established as a wholly owned subsidiary, according to an Oct. 10 news release.

Current cyber security operations will be transferred to the target acquisition.

Optium Cyber Systems is a Texas based corporation and a provider of protection and security services.