New: Buy Now on Thomas and Pay Over Time with Credit Key   Learn More

Sentex Sensing Technology, Inc. Signs Binding MoU to Acquire ICOM Holdings Ltd. to Broaden and Support European Businesses of Sentex


CLEVELAND, April 25: Sentex Sensing Technology, Inc. (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)(/rkincai2@columbus.rr.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 (rkincai2@columbus.rr.com) and for services (http://www.icomtel.com/).

Source: Sentex Sensing Technology, Inc.

CONTACT: Marketing Maryann Kusa Sentex Sensing Technology, Inc.,
+1-216-687-0289, ext. 125, +1-216-687-0298, fax, mak@sentextech.com
Web site: http://www.sentextech.com/
http://www.balmoralfinancial.com/
http://www.balmoralcompanies.com/
http://www.icomtel.com/

More from Packaging Products & Equipment

All Topics