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

To: David who wrote (12431)	2/10/1999 5:48:00 PM
From: David	Read Replies (1) \| Respond to of 26039

Who is at the heart of this deal? While we understand this as a deal to acquire Identicator, the technicalities are a little more interesting. Identicator created a holding company that was over both Identicator Corporation and a joint venture between Identicator and International Technology Concepts. IT Concepts provided all the inventory for the bio-ID joint venture, and half the paid-in capital. There were four stockholders mentioned in today's filing: Yuri Khidetel, Yury Shapiro, and two others. Yuri K. emerged as VP of Software, and Yury S. as VP of Hardware. In preparation for the upcoming IDX merger, IDT merged the joint venture into Identicator Corporation, and then merged Identicator Corporation into IDX. Along the way, IT Concepts got 1,358,881 shares of IDT stock (it converts into 1,449,926 shares of IDX). Clearly, the Yuries own a big chunk of that. At the same time Yuri K. got an IDT stock option for 194,650 shares IDT (worth 207,691 shares IDX) and Yury S. got a stock option for 159,292 shares IDT (169,964 IDX). They also get a 100,000 IDX stock option when the merger is completed. In other words, now they are millionaires. (Is this what the IDX proxy issue was all about last September? Making sure we could make these IDT people happy?) They are also going to be hired by Identix, and sign noncompete agreements to keep them locked up for three years following the merger. This is good. I think they are the guys behind the IDT technology successes.