Sentex Sensing Technology, Inc. Signs Binding MoU to Acquire ICOM Holdings Ltd. to Broaden and Support European Businesses of Se
26 April 2007 - 6:46AM
PR Newswire (US)
CLEVELAND, April 25 /PRNewswire-FirstCall/ -- Sentex Sensing
Technology, Inc. (OTC:SNTX.OB) (BULLETIN BOARD: SNTX.OB)
(http://www.sentextech.com/). Henrik Rubinstein, President signed a
binding Memorandum of Understanding to acquire ICOM Holdings Ltd.
to support the future sale of biometrics driven Sentex products in
the European Union. ICOM, which provides technology services with
active businesses, and with revenue approximating $8 million in
2006 (and projections for $10-$12 million in 2007/08) decided in a
firm commitment to bundle activities with Sentex. ICOM will be the
new European HQ and Service Center for the Sentex product line. The
agreement states, based on the huge security needs of these
countries as well as the upcoming service needs for (soon to be
delivered biometric phones and communications), a tremendous
business exists for growth in the European market. The agreement
calls for the issuance of new shares for 100% ownership of ICOM by
Sentex via a registration statement. This acquisition, with the
strong security market for Sentex products, will greatly enhance
the marketing efforts of Sentex within the European Community.
Further details are forthcoming. ABOUT Sentex Sensing Technology,
Inc. Sentex Sensing Technology, Inc. is a multi-biometric
technology company. Sentex provides fingerprint, facial and voice
biometric technologies, as well as systems, and critical system
components that empower the identification of individuals in
large-scale ID and ID management programs. The Company's offerings
include access control, Computer based Internet authentification,
Biometric Smart Cards and services for biometric data capture,
mobile POS systems, and backend standards-based modules and
software components for biometric matching and data mining. ABOUT
Balmoral Financial Services Companies In operation since 1986,
Balmoral (http://www.balmoralfinancial.com/), an Ohio corporation,
is a niche financial services company that specializes in
identifying merger candidates and placing these transactions with
American companies. ABOUT Balmoral Capital Holding Companies
Professionals with significant transaction and industry expertise.
A full spectrum of investment banking services including overseas
IPO's, Follow- ons/Registered Directs, PIPEs, M&A Advisory and
Debt Capital Markets in Europe and Asia. An exceptional client
focus that is characterized by long term relationships and a
history of advising. BCHI uses our main office in the British
Virgin Islands to raise all capital. BCHI was formerly Zephyr
Communication and was incorporated in 2005
(http://www.balmoralcompanies.com)(/). ABOUT ICOM Founded in 1990,
ICOM provides various technology based solutions -- which include:
Converged Voice & Data Business Solutions (VoIP), Business
telephone systems, voice and data Structured cabling, electrical,
GPS, assisted technologies and more -- to businesses throughout the
United Kingdom. The five companies employ over 30 persons, 100 sub
contractors and have 1,000 clients in the UK. ICOM is involved in
maintenance & support, managed services, GSM gateway solutions,
SMS delivery, network services, office refurbishment and project
management. For more info on BCHI contact General Director Rodney
Kincaid () and for services (http://www.icomtel.com/). DATASOURCE:
Sentex Sensing Technology, Inc. CONTACT: Marketing - Maryann Kusa
of Sentex Sensing Technology, Inc., +1-216-687-0289, ext. 125,
+1-216-687-0298, fax, Web site: http://www.sentextech.com/
http://www.balmoralfinancial.com/ http://www.balmoralcompanies.com/
http://www.icomtel.com/
Copyright