NEW YORK, July 23, 2009 (GLOBE NEWSWIRE) -- TIE Technologies, Inc. (Pink Sheets:TTCS) today announces the, the acquisition of selected wireless communications and RFID assets from Architron Systems, Inc.
In a joint collaborative asset exchange TIE Technologies, Inc. has issued 280,000 shares to Architron for $280,000 of communications technology and hardware assets. This acquisition will bring to TIE Technologies new cutting edge radio technologies capable of delivering high speed data, SD/HD video, voice, sensor information, and even robotic controls, through the most challenging environments. This technology is based on one of the most sophisticated patented wireless operating systems and multiplexing hardware capabilities available in the industry.
Edward C. Andercheck, CEO of TIE Technologies commented, "This asset acquisition represents the natural progression of TIE becoming an operating company, with these assets we are building upon our strong science and technology base with products which deliver real customer solutions to complex communications challenges, be it at an airport, a seaport or other critical logistics installations."
TIE Technologies' planned expansion effort this year has included targeted technology asset acquisition and licensing, as well as strategic partnerships in both the telecommunications and IT sectors.
"TIE Technologies' expertise in providing solution design and implementation services for government, military, industrial and private sector applications are significantly expanded by these new technologies. TIE will be able to more profitably address a number of planned projects in the civil and military aviation sectors that call for asset tracking, airport bird deterrent and abatement and remote surveillance monitor and analytics," commented, Mark Marangella, TIE Technologies, Executive Vice President, Telecommunications.
ABOUT TIE TECHNOLOGIES INC.
TIE Technologies is a systems integration and telecommunications company focused on engineering and delivering innovative solutions for user's needs and challenges within the dynamic global voice, video and data communications markets. The company offers managed IT and telecommunication services to solve a myriad of complex client requirements. Services and solutions include out sourced and internal server, applications hosting, managed hosting and related systems management services, database hosting, content delivery networks, data broadcasting networks, and voice and video solutions providers. TIE Technologies (TIE) is traded on the Pink Sheets under the symbol "TTCS".
The TIE Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6435
Safe Harbor Statement
The information in this release, other than historical information, may be considered forward-looking statements within the provisions of the Private Securities Litigation Reform Act of 1995. Projection and other forward-looking statements and management expectations regarding future events and/or financial performance of the Company -- although given in good faith -- are inherently uncertain and actual events and/or results may differ materially.
investor.relations@tietechnologies.com