To: John Arnopp who wrote (1492 ) 7/10/1998 8:55:00 AM From: KatayamaGorobei Respond to of 4467
Company Press Release SOURCE: Safeguard Scientifics, Inc. Safeguard Scientifics Proposes Rights Offering in Who? Vision Systems, Inc. WAYNE, Pa., July 10 /PRNewswire/ -- Safeguard Scientifics, Inc. (NYSE: SFE - news), the New York Stock Exchange-listed strategic information systems company, announced today that it is proposing to distribute to its shareholders rights to purchase common shares of Who? Vision Systems, Inc. The rights offering will be made on the basis of one share of Who? Vision common stock for each five shares of Safeguard common stock owned, and will be subject to a 20 share minimum purchase requirement. Any distribution will be subject to a registration statement to be filed with the Securities and Exchange Commission, and the offering will be made only by means of a prospectus. Safeguard anticipates commencing the offering in the third quarter 1998. Who? Vision, an XL Vision spin-out, is a technology company focused on the development of fingerprint identification technologies. The Company has designed and developed TactileSense(TM), a proprietary fingerprint identification technology, and intends to manufacture and distribute fingerprint identification products based upon this technology through strategic partners for use in a wide variety of applications in which positive identification of a specific individual or user is desired. The Company believes that its TactileSense technology enables it to create a highly reliable, small-sized and cost-effective solution which, for the first time, will promote the widespread integration of fingerprint identification devices into numerous commercial mass market products. The Company is focusing its initial commercialization efforts for its TactileSense product on the computer network security market and on integration into cellular telephones. Safeguard is a unique partnership of entrepreneurial companies focused on information technology markets. Safeguard has a proven track record of bringing emerging companies to market through rights offerings to Safeguard shareholders. Past Safeguard rights offerings include Novell, Inc., CompuCom Systems, Inc., Cambridge Technology Partners (Nasdaq:CATP - news; Massachusetts), Inc., Coherent Communications Systems Corporation [Nasdaq:CCSC - news], USDATA Corporation, Integrated Systems Consulting Group, Inc., Sanchez Computer Associates, Inc., Diamond Technology Partners Incorporated [Nasdaq:DTPI - news], ChromaVision Medical Systems, Inc., OAO Technology Solutions, Inc., and DocuCorp International. SOURCE: Safeguard Scientifics, Inc.