LONDON, April 26, 2006 (PRIMEZONE) -- Quantech Electronics Corp. ("Quantech") today announced the successful completion of the reverse merger with IDK UK, in which Quantech acquired 100% of IDK UK LTD. Its trading symbol is now (Pink Sheets:QTCE). Quantech's existing board of directors and management has been replaced in its entirety by IDK. Consequently, all of IDK UK's assets, businesses and operations have been merged into Quantech.
Quantech is pleased to announced its new management. Mr. Israel Levi resigned his post as Chaiman of the Board of Quantech, and Ms. Liat Matilsky was appointed the new CEO of Quantech. Ms. Matilsky noted proudly, "We are very pleased that the reverse merger was completed in a timely fashion. The Company's team is looking forward to keeping the investment public up to date on our activities, and help our stockholders realize significant value on their investments."
IDK is a web-based software development company based in the United Kingdom. IDK offers development services focusing on web-based desktop communication tools, call center support tools, and development packages designed to enhance the effectiveness of web-based advertising and instant messaging.
IDK's software innovations and powerful features uniquely fit customers' needs for today and tomorrow. Having developed several unique technologies and forged notable strategic alliances, IDK rapid-response systems constructs client infrastructure at competitive prices.
"We plan to move forward with our core knowledge and reinforce our innovative development efforts and target. Our existing tools and knowledge are uniquely positioned to help the best firms worldwide increase their business," notes Liat Matlisly.
For more information, please contact Mrs. Liat Matilsky at effect1@bezeqint.net or visit our web site at www.quan-tech.co.uk.
Forward-Looking Statements
Certain statements in this news release may contain "forward-looking" information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.