Global Path Inc. Enters Into An Agreement To Acquire Entact Information Security Corporation.Business Editors TORONTO & MUNICH, GERMANY--(BUSINESS WIRE)--Jan. 23, 2002 Global Path Inc.(OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :GBPAA) Global Path Inc. (GBPAA - OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB) announced today that it has signed a letter of intent with Entact Information Security Corporation ("Entact") for the acquisition of 100% of Entact and its subsidiaries including its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and European operations. Entact, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. , provides security software solutions serving the large and medium enterprise markets globally. Entact's customers include Banca di Roma, SanPaolo IMI The Gruppo Sanpaolo IMI is one of Italy's major banking and insurance groups and it is based in Turin. It employs about 44 000 people and has about 7 million customers. It has about 3200 local offices where private, business and retail banking activities take place. , Credit Lyonnaise ly·on·naise adj. Cooked with onions: lyonnaise potatoes; potatoes lyonnaise. [From French (à la) Lyonnaise, (in the manner) of Lyon, from Lyon. , SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. , Bertelsmann, Swisscom, Singapore Exchange, Hugo Boss, Ericsson, ARAL ARAL Aromaten/Aliphaten (German Gasoline Company) ARAL Average Route Acquisition Latency , Reader's Digest, Basler Versicherungen, Techniker Krankenkasse, and IZB IZB Interzonal Boundary . Entact's full suite of seven security software solutions addresses consolidated security administration, password management, security workflow, audit and reporting for Global 5000 companies. These solutions enable centralized management of user access to diverse enterprise and e-business platforms while enabling future migration to directory based infrastructures and new authentication mechanisms. Entact is headquartered in Irving, Texas with a European head office in Munich, Germany and a sales office in Denmark. The agreement calls for Global Path to acquire 100% of the equity of Entact valued at US $5 million in exchange for common shares of Global Path. "We are confident we can take Entact to a stronger more competitive level and position it to take advantage of future growth opportunities," said Robert Kubbernus, 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 Global Path. "It has long been recognized in the security community that robust identification, authentication and user management is the foundation to which all security initiatives are built. Entact is the most comprehensive security solution in its class today plus delivers rapid return on investment for its enterprise clients." With Entact as its platform security company, Global Path will look to expand globally and acquire additional and complementary security companies to expand its suite of products. The acquisition is subject to the execution of a definitive agreement and is expected to close within 60 days from the date of this release. About Global Path Global Path (GBPAA - OTC BB) is a diversified holding company that develops business assets in key verticals with below market valuations and an opportunity for expansion. Global Path brings strategic, financial and business resources to its portfolio companies. Except for historical information contained herein, this press release contains forward-looking statements that involve risks of uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to, those relating to closing of the transactions being contemplated, acceptance of the target companies products in the market place and operating results of each of the target companies, the impact of competitive products and technologies, the possibility of products infringing on patents and other intellectual property and so forth. Entact Information Security Corp. or Global Path Inc. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents the company files from time to time with the Securities and Exchange Commission and Canadian securities regulatory authorities. |
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