DD and Emails from the CEO! Last update on Triad acquisition:
HOLLYWOOD, FL / ACCESSWIRE / March 9, 2016 / Aluf Holdings, Inc. (PINKSHEETS: AHIX) today updates its shareholders on the previously announced acquisition of Triad Biometrics, LLC. and the launch of its new Regulatory Compliance Software subsidiary. Teresa McWilliams, CEO of Aluf Holdings Inc. states, “We are pleased to be making such strides in bringing value to our shareholders with these acquisitions and felt the need to update our shareholders on its current milestones. We feel these acquisitions finally put us closer in the direction we need for up listing to a higher exchange.”
Aluf Holdings is working towards completing the next phase of its acquisition of Triad Biometrics, LLC and has completed a satisfactory due diligence of Triad Biometrics which have simultaneously completed a satisfactory due diligence of Aluf Holdings.
Both companies completing the due diligence phase brings them closer towards the completion of the acquisition. Pursuant to the terms of the Purchase Agreement, the Company will pay Triad US$3,750,000 for the Assets.
Triad Biometrics, LLC. is a biometric software innovator formed in 2004, with software products including “undefeatable” FIPS 140-2 Suite B military grade encryption and various biometrics applications among other ground breaking features. The global encryption software market is expected to reach $2.16 billion by 2020, growing at a compounded annual growth rate of 14.27% from 2014 to 2020 (by Allied Market Research). BCC Research among many others is predicting the global biometrics market to grow at a rate of 22.7 compounded annual growth rate between 2015 and 2020. That will see the market grow from an estimated $14.9 billion last year to $41.5 billion by 2020.
Aluf Holdings Inc., is further pleased to update its shareholders on its acquisition of its new Regulatory Compliance Software and the launch of a new subsidiary for the Company focusing on assisting security firms, such as banks, law firms, clearing firms, and broker dealers that sell investment products to the public to comply with rules and regulations of the securities industry. It will also help reduce compliance/supervision costs while improving regulatory compliance. This cost effective software solution will also help management monitor account activities. “We are days away from executing the definitive purchase agreement for this copyrighted software acquisition, allowing the Company to once again bring value to its shareholders in a rapidly growing industry,” said Teresa McWilliams, CEO Aluf Holdings, Inc. Firms will pay a one-time setup fee that covers establishing a master account, populating individual tables, mapping data files, testing data file exchange and providing system training.
About Triad Biometrics, LLC:
Triad Biometrics, LLC, developed TEAMS(R), a groundbreaking enterprise level fingerprint biometric identification and authentication product that is setting a new paradigm for security, interoperability, and accountability. TEAMS(R) represents the next-generation in securely accessing web based applications. By enabling the elimination of passwords and password fields, data security, end user experience, and productivity are significantly improved while authentication-related maintenance and operating costs are reduced. User frustration and risk associated with finding, remembering, and storing passwords is eliminated. Unlike other commercial biometric systems, TEAMS(R) is an autonomous authentication method with no reliance on directory or other password-based systems, and once implemented, cannot be hacked, cracked, or circumvented. TEAMS(R) utilizes military-grade FIPS-140 Suite B cryptography in concert with several unique patented and pending features which enable a never-before-obtained level of identity confidence, privacy protection, and data security over un-trusted networks, such as the public internet. Visit: www.triadbiometrics.com.
About Aluf Holdings:
Aluf Holdings, Inc. (AHIX) is a holding company headquartered in Hollywood, FL, engaged in acquiring, operating and managing subsidiary companies in the development and sale of proprietary software. Its strategy is to build a larger and more diverse enterprise software company through strategic acquisitions and managed growth within its business sectors as it acquires profitable businesses with strong growth potential and a solid business plan in the software and technology industries. For information, visit www.alufinc.com.
Triad DD: Triad's patent link
: http://patents.justia.com/assignee/triad-biometrics-llc Triad Biometrics Department of Defense Contractor link: http://government-contractors.insidegov.com/l/122465/Triad-Biometrics-LLC-in-Boca-Raton-FL Triad Biometrics Business Partners: Triad Biometrics Patented Fingerprint Technology: