VUANCE to Acquire Credential Division of Disaster Management Solutions
10 Setembro 2007 - 9:30AM
PR Newswire (US)
Acquisition to Expand and Enhance Company's Credentialing Product
Offerings QADIMA, Israel and MCLEAN, Va., Sept. 10
/PRNewswire-FirstCall/ -- Vuance Ltd. (formerly SuperCom Ltd.)
(Nasdaq: VUNC; Euronext: VUNC), a leading provider of incident
management and active RFID solutions to homeland security, public
safety, commercial, institutional and governmental markets, today
announced that it has entered into a definitive agreement (the
"Agreement") to acquire, through its US subsidiary, Vuance Inc.,
the Credentialing Division of Disaster Management Solutions Inc.,
for approximately $100,000 in cash and up to $650,000 in royalties.
The acquisition will complement Vuance's incident management
solutions business, add an advanced first responder credentialing
system (RAPTOR) to the Incident Response Management System (IRMS)
product portfolio, and bolster the Company's presence in a variety
of strategically important markets. Under the terms of the
Agreement, Vuance will pay $100,000 in cash plus 10% of the net
revenue on sales of the RAPTOR Advanced Authentication and
Validation system over the 18 months following the acquisition. In
addition, VUANCE will assume certain lease payments on office space
and equipment. The RAPTOR system is an advanced tool for First
Responders. It allows for the compartmentalized storage and secure
retrieval of trusted identity, training, skills and licensure data,
for appropriate credentials issuance. Using a system of advanced
registration through a web-based portal, RAPTOR authenticates the
registrant's identity and verifies the provided information through
primary sources. RAPTOR's data are stored and processed within a
card's memory and/or microprocessor chip(s). It is a scalable
solution that can serve as the primary repository of a public or
private credentialing program and/or be integrated with additional
databases to provide comprehensive functionality to agencies.
"RAPTOR is the perfect complement to our IRMS product line, which
combines wireless communication, authentication, and database
management; it enhances our existing products and they, in turn,
will enhance its value," said Eyal Tuchman, Vuance's Chief
Executive Officer. "Moreover, RAPTOR gives our customers a new tool
to enable them to issue HSPD-12 compliant credentials to their
personnel prior to a natural or man-made incident." "Consistent
with the credentialing goals of the newly enacted 'Improving
America's Security Act of 2007 (H.R.1)', RAPTOR allows for true
scene control, accountability, and force protection," stated Tom
Connell, II, newly appointed Division Manager for Vuance's Incident
Response Management Solutions (IRMS) and chief architect of the
RAPTOR System. "It is the first system in the country that allows
incident commanders to trust the credentials being presented to
them by emergency responders, regardless of what jurisdiction they
come from, because it has been verified through a trusted primary
source. This allows the incident commanders to compare skills and
qualifications to an established minimum standard, as required by
the Improving Americas Security Act, and allows incident commanders
to allocate those personnel resources effectively. This will result
in faster, more secure and effective decision- making, which can
translate into saving lives." About Vuance Ltd. Vuance Ltd.
provides innovative incident management, RFID and credentialing
solutions to public safety, commercial and government sectors. The
Company's Incident Response Management System (IRMS) is the
industry's most comprehensive mobile credentialing and access
control system, as required by Homeland Security and other
initiatives. With the recent acquisition of SHC (manufacturer and
distributor of RFID, security management and forward- thinking
access control systems and equipment) and this recent Agreement
with DMS, Vuance expands its flexible multi-technology RFID devices
to provide a complete, cost-effective solution for the
credentialing, validation and continuous tracking of assets and
individuals. For more information, visit the Company's website at
http://www.vuance.com/. Vuance Ltd. is headquartered in Qadima,
Israel and its U.S. subsidiary is based in McLean, Virginia. Vuance
common stock is listed on the NASDAQ Capital Market and on the
Euronext Exchange under the symbol "VUNC". For more information,
visit http://www.vuance.com/. Safe Harbor This press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These statements
are subject to known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements
to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Statements preceded or followed by or that otherwise
include the words "believes", "expects", "anticipates", "intends",
"projects", "estimates", "plans", and similar expressions or future
or conditional verbs such as "will", "should", "would", "may" and
"could" are generally forward-looking in nature and not historical
facts. Forward-looking statements in this release also include
statements about business and economic trends. Investors should
also consider the areas of risk described under the heading
"Forward Looking Statements" and those factors captioned as "Risk
Factors" in the Company's periodic reports under the Securities
Exchange Act of 1934, as amended, or in connection with any
forward-looking statements that may be made by the Company. The
Company also disclaims any duty to comment upon or correct
information that may be contained in reports published by the
investment community. Investor/Media Contacts North America Israel
Jerry Cahn, Ph.D., J.D. Jerry Falkner, CFA Alex Somech Target 3
Communications RJ Falkner & Company Tel: +972-8-9799-000 Tel:
646-827-0009 Tel: 800-377-9893 Fax: +972-50-8961-570 Fax:
646-827-9009 Fax: 830-693-6600 Mobile: +972-54-4297-754 DATASOURCE:
Vuance Ltd. CONTACT: Jerry Cahn, Ph.D., J.D., Target 3
Communications, +1-646-827-0009, ; Jerry Falkner, CFA, RJ Falkner
& Company, 1-800-377-9893, , or Alex Somech, +972-8-9799-000,
Web site: http://www.vuance.com/
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