Sentex Sensing Technology to Acquire ICOM Holdings

Sentex Sensing Technology's president, Henrik Rubinstein, signed a binding memorandum of understanding to acquire ICOM Holdings 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, a multi-biometric technology company that provides fingerprint, facial, and voice biometric technologies. ICOM will be the new European HQ and Service Center for the Sentex product line.

The agreement calls for the issuance of new shares for 100 percent 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.