HUDSON VALLEY PATROL AGREES TO BUY GUARD FIRM Hudson Valley Patrol Inc said it agreed to acquire privately held Federal Protection Services Inc, a Palm Beach, Fla., security firm, for 200,000 common shares and other considerations. Hudson Valley, which provides guard and patrol services in upstate N.Y., said Federal Protection Services provides investigation, uniformed guard and armoured truck services to banks, corporations and residential communities in southern Florida. The company said it will issue 200,000 shares of its common at closing and additional shares based on Federal Protection's pretax earnings over the next three years. Closing is subject to setting a definitive agreement, it said.