AXCESS Inc. Announces Agreement to Acquire Ivex Corporation; Streaming Video Appliance to be Added to Prism Video Line.Business Editors & High-Tech Writers DALLAS--(BUSINESS WIRE)--Sept. 19, 2001 AXCESS Inc. (Nasdaq:AXSI), a leading provider of network-based asset productivity solutions, announced today the signing of a Letter of Agreement to acquire all the assets of Ivex Corporation. Ivex Corporation is a leading provider of networked video technology in the security and IT markets. Ivex recently announced the availability of its VSA VSA (in New Zealand) Voluntary Service Abroad 1200, an embedded processor-based multimedia streaming network appliance (1) A specialized device for use on a network. For example, Web servers, cache servers and file servers can be implemented as general-purpose computers with the appropriate software or as network appliances, which are computers dedicated to a single function and cannot do anything that pushes advanced video and audio processing directly onto the corporate or Internet backbone (communications, networking) Internet backbone - High-speed networks that carry Internet traffic. These communications networks are provided by companies such as AT&T, GTE, IBM, MCI, Netcom, Sprint, UUNET and consist of high-speed links in the T1, T3, OC1 and OC3 ranges. , then to any point on the network, including handheld devices. The product is used in a variety of industries to transmit live (CCTV CCTV abbr. closed-circuit television CCTV closed-circuit television ) video over the network, thereby providing visibility into operations for security and productivity applications. The VSA 1200's programmable architecture provides maximum system flexibility by supporting multiple video and audio CODECs simultaneously with on-board intelligence processing -- in a compact, self-contained appliance. This combination of highly-integrated power and programmability allows digital video processing to be distributed at the camera source, consequently freeing up valuable network bandwidth, reducing video storage requirements, eliminating single point of failure and improving overall video quality. The VSA 1200 will become part of AXCESS' Prism Video(TM) product line, a series of network-based, streaming video products including: the LANcam(TM) network streaming video camera; the LANconnect(TM) network video transmitter; the LANcorder, a software-based digital video recorder See DVR. ; and LANview(TM), LANplayer(TM), and PCPeek(TM) viewer software. AXCESS sells these products in stand-alone fashion or as integrated systems through distributor, OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and , and system integrator channels. The product line supports applications in multiple industries including security, IT, education, retail, and healthcare. "This is an excellent opportunity for AXCESS on many fronts," commented Allan Griebenow, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AXCESS Inc. "The VSA 1200 fits directly into our product mix and our appliance philosophy and can be delivered rapidly into our existing sales channels. The VSA 1200 is a market-ready product which meets AXCESS' planned addition of such technology, without requiring extensive product development. Additionally, Ivex brings a variety of strong OEM working relationships with companies that are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. multi-media solutions for their product lines." The purchase is an affiliated transaction, as VENNWORKS LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is a significant investor in both companies. Under terms of the letter, AXCESS will purchase all of the tangible and intangible assets of Ivex. AXCESS will not assume any liabilities. For more information on the AXCESS product lines, visit the company website at www.axcessinc.com. About AXCESS AXCESS Inc., headquartered in Dallas, TX, provides network-based asset management solutions to the enterprise using patented technologies in wireless, automatic identification and multi-media for improving operations productivity, physical security, asset and inventory management, and logistics. Products include hands-free, long range RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. (radio frequency identification See RFID. ) technology used to track and monitor people, assets, inventory and vehicles as well as patented digital video compression technology for enterprise multi-media transmission and digital recording. AXCESS Inc. is a VennWorks partner company and trades under the symbol AXSI on the Nasdaq market. For more information on AXCESS Inc., visit www.axcessinc.com. About IVEX Corporation Ivex Corp., headquartered in Atlanta, Ga., is a leading-edge Internet video service provider. The company offers products and services, such as ViewOps, that are based on its smart digital video technology and designed to allow business managers to view and manage their operations from anywhere, anytime. Ivex brings "smarter video to the Net." The company has developed advanced digital technology to acquire, process, transmit and use real-time video over Internet Protocol (IP) networks to increase the security, productivity and revenue of its business customers. Its main areas of expertise include embedded video appliances and distributed client-server multimedia software. For more information about Ivex Corp., please visit the company's Web site at www.ivex.net. This news release contains "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including changes from anticipated levels of sales, future national or regional economic and competitive conditions, changes in relationships with customers, access to capital, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, realization of the anticipated purchase and other factors disclosed in the Company's Annual Report on Form 10KSB KSB Kogod School of Business (American University) KSB Kelley School of Business (Indiana University) KSB Kantonsschule Am Brühl St. for the year ended Dec. 31, 2000 and all of the Company's subsequent Quarterly Reports on Form 10QSB QSB Fading QSB Qualified Small Business (IRS category) QSB Queen Street Backpackers (Auckland, New Zealand) QSB Quality System Basics QSB Qualified Supplemental Benefit QSB Quantum Singleton Bound , especially in the "risk factors" sections of these annual and quarterly reports. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this news release. |
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