SILEX TECHNOLOGY acquires TROY GmbH
Meerbusch, Germany, December 2005 – silex technology america, Inc. and TROY Group, Inc. signed a definitive agreement effective since December 13, 2005 stating that silex technology america will acquire the Wireless & Connectivity Solution Business of TROY Group, Inc.
silex technology america, Inc. like silex technology europe GmbH is a subsidiary of Japan´s silex technology, Inc. The acquisition also includes TROY GmbH, Herrenberg, Germany, subsidiary of TROY Group´s Wireless & Connectivity Solutions division.
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
silex technology europe GmbH and silex technology america, Inc. are subsidiaries 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 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.
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. Troy GmbH in Herrenberg, Germany is a 100% daughter company of TROY Group, Inc. As the European Headquarter for the product line “Wireless & Connectivity Solutions” Troy GmbH looks after distributors in ten european countries, sells network printing devices and offers Bluetooth and Wireless LAN solutions. In Germany Troy GmbH also distributes hardware for internet access, among others for Funkwerk Enterprise Communications GmbH (Bintec) and as manufacturer of the internet access servers TROYgate.
silex technology america, Inc. like silex technology europe GmbH is a subsidiary of Japan´s silex technology, Inc. The acquisition also includes TROY GmbH, Herrenberg, Germany, subsidiary of TROY Group´s Wireless & Connectivity Solutions division.
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
silex technology europe GmbH and silex technology america, Inc. are subsidiaries 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 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.
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. Troy GmbH in Herrenberg, Germany is a 100% daughter company of TROY Group, Inc. As the European Headquarter for the product line “Wireless & Connectivity Solutions” Troy GmbH looks after distributors in ten european countries, sells network printing devices and offers Bluetooth and Wireless LAN solutions. In Germany Troy GmbH also distributes hardware for internet access, among others for Funkwerk Enterprise Communications GmbH (Bintec) and as manufacturer of the internet access servers TROYgate.
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