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Product category: Embedded Software and Operating Systems
News Release from: InPlay Technologies, Duraswitch Division
Edited by the Electronicstalk Editorial Team on 27 April 2004

Duraswitch practices the ART of
acquisition

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Duraswitch has entered into a definitive agreement to acquire all of the shares of privately held Active Recognition Technologies, a developer of vehicle and licence plate recognition software.

Duraswitch has entered into a definitive agreement to acquire all of the shares of privately held Active Recognition Technologies (ART), a developer and licensor of vehicle and licence plate recognition software The stock acquisition is subject to ART meeting future revenue and profit conditions and is expected to close in 2005

"We are excited that we are in a position to look at various opportunities to diversify into innovative, licensable technologies.

Our success with the Duraswitch technologies being sold and manufactured by our network of licensees in the switch industry has given us a stable base to work from.

As the Duraswitch technologies are designed into various products, our royalty revenue source grows", said Bob Brilon, Duraswitch CEO.