TO ALL. I thought this thread needed some updating. Can anyone shed some light on this stock? Here is today's news.
SAN DIEGO--(BUSINESS WIRE)--June 5, 1997--Mitek Systems Inc. (NASDAQ:MITK) Thursday announced that it has completed the acquisition of substantially all of the assets of privately held Technology Solutions Inc. (TSI), a Chantilly, Va.-based software applications and solutions provider who has been in the imaging business for four years.
With the addition of TSI, Mitek will strengthen its position in the imaging market.
TSI has two major products in form and fax processing markets. In addition, TSI has a line of low- to mid-volume remittance processing solutions. TSI has installed these solutions at a number of Fortune 500 customer sites.
"Through this acquisition, Mitek is positioning itself to provide end-to-end image-based business solutions to the end user and the large systems integrators," said John Kessler, president and CEO of Mitek. "This merger will create a link between the end-user community and the technology provider which will result in a technology that is more responsive to business customer requirements," said Steve Chahal and Tony Cristofano, the co-owners of TSI.
Mitek Systems is a worldwide leader of neural imaging technology with headquarters at 10070 Carroll Canyon Road, San Diego, Calif. 92131. Mitek's products incorporate proprietary neural networks software technology for the recognition and conversion of hand-printed and machine-generated characters into digital data. The company's products are installed in some of the largest companies and government organizations in the world.
CONTACT:
Mitek Systems Inc., San Diego
John Kessler, 619/635-5900
619/635-5908 (fax)
miteksys.com (Web)
KEYWORD: CALIFORNIA VIRGINIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED MERGERS/ACQ
BW0032 JUN 05,1997
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