Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: CareyM who wrote (4586)	10/29/1997 8:00:00 AM
From: g.w. barnard	Read Replies (1) \| Respond to of 26039

to all, sylan deal gw Headline: Identix, Sylvan Consummate Definitive Agreement Forming Joint Venture ====================================================================== SUNNYVALE, Calif.--(BUSINESS WIRE)--Oct. 29, 1997--Identix Inc. (ASE:IDX), a leader worldwide in live-scan systems and biometric identification verification systems, and Baltimore-based Sylvan Learning Systems Inc. (NASDAQ NM:SLVN) jointly announced Wednesday that they have consummated a definitive agreement forming a joint venture company to be called Sylvan/Identix Fingerprinting Centers LLC. The purpose of the joint venture is to provide full ten-print fingerprinting services at Sylvan Learning Systems testing centers nationwide. Optically-scanned fingerprints will be taken with Identix's TouchPrint 600 live-scan system at Sylvan locations. Identix and Sylvan each hold a 50 percent interest in the joint venture company. Initially, Identix's Identification Services Division will subcontract equipment installation, maintenance and support and train Sylvan personnel to provide the fingerprint services. Ultimately, the Identification Services Division will operate under the joint venture. The joint venture will begin by supplying fingerprint services to Illinois State agencies under an existing contract with the Illinois State Police. Sylvan Senior Vice President/Strategic Development Chris Nguyen commented, "This joint enterprise represents a creative synergy between Identix's established technologies and Sylvan's established testing resources, both in scope and expertise. We look forward to a mutually fruitful relationship." According to Identix Chairman, President and Chief Executive Officer Randall C. Fowler, "Our agreement with Sylvan provides the opportunity to service a broad spectrum of commercial and government entities whose employee background checks and other verification requirements generate literally millions of fingerprint requests each year." Sylvan Learning Systems Inc. is the leading provider of educational services to families, schools and industry. It delivers computer-based testing for academic admissions, as well as for professional licensure and certification programs at more than 1,300 testing centers through its Sylvan Prometric division. Sylvan traditionally is known for the network of more than 640 Sylvan Learning Centers that provide personalized instructional services to students of all ages and skill levels. Also, Sylvan provides educational services under contract to public and non-public school systems through the Sylvan Contract Educational Services division, and will provide adult professional education and training through the Caliber Learning Network Inc. Identix is a leader in designing, developing, manufacturing and marketing products for the capture and/or comparison of fingerprints for security, anti-fraud, law enforcement and other applications. Identix's subsidiaries and divisions include ANADAC/Government Services, a provider of information technology, engineering, systems integration and consulting services to government and commercial entities; Identification Services Division, a supplier of contract services for employee and applicant screening and other personal identification applications; Biometric Applications & Technology, which develops and markets biometric and "smart" card software applications and solutions; and Identix International, which includes international selling offices in Europe, Asia, North and South America and Australia. NOTE: The statements in this news release that relate to future plans, events and performance are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to establishment of a new business, demand for the services provided by the joint venture, competition and technological change, carrying out strategic relationships, customer orders, including those with any government entity, funding for procurements by government agencies, the governmental procurement process and other risks identified in Identix's and Sylvan's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Neither Identix nor Sylvan undertake any obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. CONTACT: Allen & Caron Inc. Damon Wright (investors) Owen Daley (media) 714/252-8440 KEYWORD: CALIFORNIA ILLINOIS MARYLAND INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED EDUCATION Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Copyright 1997, Business Wire