CLEVELAND, Jan. 16, 2007 (PRIME NEWSWIRE) -- Sentex Sensing Technologies, Inc. (OTCBB:SNTX) (http://www.sentextech.com), Henrik Rubinstein, President signed a Memorandum of Understanding to acquire the XyLog group of companies of Malaysia. This acquisition when completed, will support the future sale of Biometrics driven Sentex Mobile products in the following Asian countries:
Afghanistan, Indonesia, Malaysia, India, Singapore, Taiwan, U.A.E., Hong Kong
XyLog has committed prospective sales of 80 Million biometric mobile devices over the next 5 years along with the required infrastructure. The contracted countries' population exceeds 1,371,000,000 people. These countries have huge security needs as well the upcoming infrastructure needs for IP driven WLAN phones, an exclusivity for the XyLog group. XyLog will market the complete Sentex product line.
Henrik Rubinstein stated, "We agreed to an exchange of shares for 100% of XyLog" to move Sentex products strategically into this strong security market.
Sentex Sensing Technologies, Inc. is also actively bidding for BenQ Mobile, the $2 Billion former Siemens Mobile Division, which recently filed insolvency and is under administration of Prager Insolvency Administration Team Munich, Germany.
About Sentex Sensing Technologies Inc.
Sentex Sensing Technologies, Inc. is a multimodal biometric technology company. Sentex provides fingerprint, facial and voice biometric technologies, as well as systems, and critical system components that empower the identification of individuals in large-scale ID and ID management programs.
About XyLog Group of Companies
XyLog Group of Companies was formed in 1992 from the staff of the Software development group of an international accounting and consulting organization. The Company consists of a Software and Hardware Business Application Development team involved in a variety of financial application development efforts. XyLog has successfully developed and commercialized packaged software in the financial industry and provides computerization solutions and services to Fortune clients in the Far East. The strong involvement in new technologies as well upcoming telecommunication projects drove their distribution network via Asia Pacific markets. The Company's primary and most popular product offering is the Award Winning Unit Trust/Mutual Fund Management System -- HORIZON Suite -- designed to address the requirements of Mutual Fund management companies, insurance and institutional agents. XyLog's sister products include Treasury System for both the institutional and corporate sectors, Portfolio and Asset Management System.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sentex, and members of its management as well as the assumptions on which such statements are based, updated or revised forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.