and gaining a competitor?Bioscrypt, a leading provider of...

and gaining a competitor?

Bioscrypt, a leading provider of enterprise access control technologies, announced that it has entered into an agreement to acquire A4Vision, a leading provider of advanced identification systems using innovative 3D facial imaging and recognition technology. Bioscrypt intends to add A4’s technology to its portfolio of biometric access control products. Bioscrypt will also integrate the 3D facial technology with VeriSoft, its Identity and Access Management solution, to extend the authentication factors supported for both physical and logical access control and broaden its suite of Door to Desktop identity verification technologies.

The acquisition will be completed through the merger of A4 with Bioscrypt’s wholly owned US subsidiary, with the merged company to continue as Bioscrypt. Pursuant to the merger, certain noteholders and stockholders of A4 will receive an aggregate of up to 9.0 million Bioscrypt common shares and warrants to purchase up to an additional 4.6 million Bioscrypt common shares.
Wednesday, 24 January, 2007