Silex Technology America Acquires Wireless & Connectivity Solutions Business of TROY Group, Inc.
Posted on: Wednesday, 14 December 2005, 03:00 CST
SALT LAKE CITY, Dec. 13 /PRNewswire-FirstCall/ -- silex technology america, Inc. and TROY Group, Inc. signed a definitive agreement effective today stating that silex technology america will acquire the Wireless & Connectivity Solution Business of TROY Group, Inc.
The deal, which is expected to increase silex's international business by more than $10 million in sales annually, broadens silex's OEM customer base and opens more opportunities for channel growth with the combined line of products. In addition, the acquisition expands silex's existing software protocol offering for network communication including wireless connectivity and security. silex's current product line of print and device servers will now include serial device servers.
"TROY Group, Inc. is a well-known and respected brand name in network connectivity solutions, and this acquisition is a big step for silex technology, Inc., as we continue to grow our business and increase our print server and device server market share on a global scale," said Takeshi Kono, President & CEO of silex technology, Inc.
"We are pleased to announce this transaction as we believe that the synergies Silex will be able to accomplish will be good for the customers and employees of Wireless and Connectivity Solutions," stated Patrick Dirk CEO and President of TROY Group, Inc. "The transaction will allow TROY to focus on its largest business Secure Payment Systems."
While the transaction benefits the company on a global level, two regions will see greater gains in business development as a result of current market position and relations.
"With the acquisition of TROY Group's wireless & connectivity division, silex will not only strengthen its overall position in the U.S. market, but it will also expand our presence in the European market because of TROY's presence in Europe," said David Smith, President of silex technology america, Inc. "We look forward to the opportunity for growth and expansion in the United States and Europe that will result from this agreement."
The transaction will be for $10 million and is subject to due diligence and customary consents and approvals.
About silex technology america
silex technology america, Inc. is a subsidiary of silex technology, Inc. (JASDAQ:6679), a 30-year developer of systems, developer of external and embedded device-to-device connectivity products and biometric readers and software. silex has become one of the largest global suppliers of print server products over the past 10 years, and also offers a full line of biometric fingerprint devices. silex technology america is focused on developing and offering leading-edge solutions for home and business through a comprehensive product line of print servers, device servers, wireless connectivity devices and fingerprint security devices that help enterprises, small to medium businesses and individuals improve the way they move data, print, and secure information. For additional information, call (801) 748-1199 or go to http://www.silexamerica.com/ or http://www.silexreseller.com/.
About TROY Group
TROY Group, Inc. ("TROY") offers a full range of products to its customers in two primary product lines: Secure Payment Systems and Wireless and Connectivity Solutions. Secure Payment Systems include Security Printing Solutions which enable the secure printing and management of checks, and Financial Service Solutions which enable secure electronic payments. Wireless and Connectivity Solutions includes hardware and software solutions that enable enterprises to share intelligent devices, such as printers, either wirelessly or using traditional networks. TROY distributes products to major corporations, banks, key government accounts and distributors worldwide. Visit TROY at http://www.troygroup.com/.
silex technology america, Inc.
CONTACT: Jacklyn Blum of Snapp Norris Group, +1-801-208-1100,jacklyn.blum@sng.com, for silex technology america, Inc.; or Nobuhiko Miura ofsilex technology america, Inc., +1-801-748-1199, nmiura@silexamerica.com
Web site: http://www.troygroup.com/
Web site: http://www.silexreseller.com/
Web site: http://www.silexamerica.com/
Source: PRNewswire-FirstCall
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