Aryt Industries Ltd. -- Subsidiary Buys Simulator Activity.Business Editors TEL-AVIV, Israel--(BUSINESS WIRE)--Sept. 12, 2000 Aryt Industries Ltd. ("Aryt" or the "Company") (ARYTF - OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB) announced today that an agreement was signed between Amcoram Ltd., a subsidiary of the Company (100%) (henceforth From this time forward. The term henceforth, when used in a legal document, statute, or other legal instrument, indicates that something will commence from the present time to the future, to the exclusion of the past. "Amcoram") and Technology Systems - TECsys (henceforth "TECsys"), for the acquisition of TECsys' activities (including ownership of a patent). In consideration of this acquisition, Amcoram will pay TECsys the sum of $1.25 million US dollars in cash, and an additional sum of $0.75 million dollars for a period of five (5) years. TECsys is a private company involved in the development, manufacture and marketing of training simulators for security forces. Development of these training simulators are based on advanced technology including video display, and integrated computerized computerized adapted for analysis, storage and retrieval on a computer. computerized axial tomography see computed tomography. graphics. The Company presently holds a patent on the technology. The goal of this accusation A formal criminal charge against a person alleged to have committed an offense punishable by law, which is presented before a court or a magistrate having jurisdiction to inquire into the alleged crime. is to enable Amcoram expanding its line of products. About Aryt Industries Aryt Industries Ltd. is an Israeli holding company. Since January January: see month. 2000, the Company has been actively seeking investment opportunities in emerging technology companies. The Company intends to be actively involved in leveraging its business, product development and marketing experience, to assist such companies achieve their growth potential and accelerate their growth in value. As of today, the Company has invested in three start-up Start-up The earliest stage of a new business venture. technology ventures: Voice Diary Ltd., Sensotech Ltd., and OfficeCore.com.Ltd. In addition, through its subsidiaries, Reshef Technologies Ltd. ("Reshef") and Amcoram Ltd. ("Amcoram"), the Company is engaged in developing, manufacturing and marketing sophisticated electronics products for the military market. |
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