AXCESS to Receive New Investment from incuVest, LLC.Business Editors DALLAS--(BUSINESS WIRE)--March 3, 2000 AXCESS Inc. (Nasdaq:AXSI) announced today that it will receive a $5.0 million strategic investment from incuVest LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Located in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , incuVest creates, develops and operates innovative technology companies through its global network of technology incuVators. The transaction is expected to close later this month. "incuVest's management team has significant experience in developing emerging technology companies. This relationship provides AXCESS with the opportunity to benefit from incuVest's growing network of companies and strategic alliances," says AXCESS' 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. , Allan Griebenow. AXCESS will utilize the investment to expand its networked multi-media and automatic identification product lines to applications outside of the security marketplace. The company will also develop an e-business service to better meet customer's information needs. Using AXCESS' patented technologies, users will benefit from significantly enhanced productivity and business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets . "AXCESS is poised to reap the rewards of the explosive growth in business-to-business e-commerce. It has the right technologies and is supported by world class management. This is a rapidly growing company with a solid customer base, good products, and recent technical innovations which give it real 'first-to-market' advantages. All of these factors position the company as a market leader and make this an excellent investment for incuVest," stated Robert J. Bertoldi, president of incuVest. For more information on AXCESS' products, see the company's web site at www.axcessinc.com. AXCESS Inc., headquartered in Dallas, provides network-based system 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 ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. . 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. incuVest LLC is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . incuVest operates a worldwide network of sector-focused incuVators, where technical innovations are cultivated into market leading public companies. The company's operating strategy integrates the creative and business development talents of its incuVators' technical and business professionals with world-class management teams, who execute the business strategies of their spin-out companies. The company's expanding operations in the United States and in strategic locations around the world will provide each business with the opportunities and benefits afforded by a global market. Please contact Henry D. Bertoldi, Vice President of Marketing, at 212/849-8126 or hbertoldi@incuvest.com for additional information about incuVest or visit the company's web site at www.incuvest.com. This press release includes "forward-looking statements" within the meaning 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 general economic and business conditions, conditions affecting the industries served by the company and its subsidiaries, conditions affecting the company's customers and suppliers, competitor responses to the company's products and services, the overall market acceptance of such products and services, 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, 1998 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 through Dec. 31, 1999. 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. |
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