DGAP-News: SCM Microsystems, Inc. d.b.a. Identive Group: IDENTIVE GROUP COMPLETES ACQUISITION OF ROCKWEST TECHNOLOGY GROUP
(firmenpresse) - SCM Microsystems, Inc. d.b.a. Identive Group / Acquisition
15.04.2010 09:05
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
SANTA ANA, California, ISMANING, Germany and DENVER, Colorado, April 15,
2010 - SCM Microsystems, Inc. d/b/a Identive Group (NASDAQ: INVE; Frankfurt
Stock Exchange: INV), a provider of products, services and solutions for
the security, identification and RFID industries, today announced that it
has completed the acquisition of RockWest Technology Group, a privately
held provider of identification and security solutions. The transaction
closed on April 14, 2010, and RockWest is now a wholly-owned subsidiary of
Identive.
'RockWest's focus on ID issuance and personalization and ID system
integration complements the Identive Group Identity Management Solutions&Services business and provides an ideal base from which to launch and build
our Multicard brand in the U.S.,' said Ayman S. Ashour, Chairman and CEO of
Identive Group. 'RockWest's regional strength, experienced management team
and unique portfolio of ID and security offerings will enhance our ability
to address the growing demand for identity management solutions. We expect
that RockWest will add profitable revenues in the range of USD 5 to 6
million for the portion of the year that they will be part of Identive. The
company has a healthy balance sheet with a net cash position of over USD
500,000.'
George Levy, co-founder and CEO of RockWest Technology Group commented,
'The RockWest team is very excited to be joining the Identive Group. My
visits to several Identive business locations in Europe and the U.S. have
reinforced my view that the two companies are a close and complementary fit
in terms of technology, market coverage and their focus on growth and
profitability. We couldn't be any more pleased to be joining such a dynamic
and thought leading group.'
RockWest provides ID management solutions and services to the education,
government, corporate, casino and healthcare markets in the southwest
region of the U.S. The company was founded in 1999 and is based in Denver,
Colorado, with branch offices in California, Arizona and New Mexico,
employing 43 people.
Identive paid an aggregate of 2.6 million shares of its common stock for
RockWest which are subject to a 24-month lockup arrangement. The
acquisition is expected to be accretive to Identive's earnings in fiscal
2010.
Fabien Nestmann
+41 44 839 70 07
fnestmann(at)identive-group.com
15.04.2010 09:05 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: SCM Microsystems, Inc. d.b.a. Identive Group
1900 Carnegie Ave. Bldg. B
CA 92705 Santa Ana
Vereinigte Staaten von Amerika
Phone: +49 89 9595-5000
Fax: +49 89 9595-5555
E-mail: ir(at)scmmicro.com
Internet: www.scmmicro.com
ISIN: US7840181033
WKN: 909247
Listed:Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
Datum: 15.04.2010 - 09:05 Uhr
Sprache: Deutsch
News-ID 19062
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 289 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: SCM Microsystems, Inc. d.b.a. Identive Group: IDENTIVE GROUP COMPLETES ACQUISITION OF ROCKWEST TECHNOLOGY GROUP"
steht unter der journalistisch-redaktionellen Verantwortung von
SCM Microsystems, Inc. d.b.a. Identive Group (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
