DGAP-News: SCM Microsystems, Inc. d.b.a. Identive Group: IDENTIVE GROUP TO ACQUIRE ROCKWEST TECHNOLOGY GROUP
(firmenpresse) - SCM Microsystems, Inc. d.b.a. Identive Group / Acquisition
31.03.2010 09:27
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ACQUISITION FURTHER EXPANDS POSITION IN ID MANAGEMENT SOLUTIONS AND
SERVICES IN THE U.S.
SANTA ANA, California, ISMANING, Germany and DENVER, Colorado, March 31,
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 entered into an agreement to acquire RockWest
Technology Group, a privately held identification and security solutions
provider.
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.
RockWest's focus on ID issuance and personalization and ID system
integration complements Identive Group's Identity Management Solutions&Services business. Following the transaction, RockWest will be integrated
into Identive's Multicard business and provide a portal for Multicard's
entry into the U.S. marketplace.
Ayman S. Ashour, Chairman and CEO of Identive Group commented, 'The demand
for identity management solutions continues to grow and RockWest has
established itself as a leading player in the U.S. market. RockWest is
solid and profitable, with an experienced management team. The company has
built an impressive portfolio of ID and security offerings, including a
number of unique applications that it has worked closely with its customers
to develop.'
George Levy, co-founder and CEO of RockWest Technology Group stated,
'Identive's group companies cover significant segments of the
identification systems value chain. Being part of Identive Group will give
us greater scale and resources to accelerate our growth and allow us to
work together with other companies in the group to enhance our ability to
capture expanding market opportunities. We are excited to be joining a team
that shares our vision of the industry and is focused on profitable
growth.'
Ashour added, 'The addition of RockWest to Identive Group demonstrates the
continued execution of our buy, build and grow strategy. RockWest's strong
regional presence and the experienced team around George Levy provide an
ideal base from which to launch and build our Multicard brand in the U.S.
and further expand our identity management and solutions offering.'
The primarily stock-based transaction is expected to close in Q2 2010 and
to be accretive to earnings in FY 2010.
Fabien Nestmann
+41 44 839 70 07
fnestmann(at)identive-group.com
31.03.2010 09:27 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
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Datum: 31.03.2010 - 03:27 Uhr
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