UniPrime Capital Acceptance Corp. Signs Definitive Stock Acquisition Agreement with Sec2Wireless Inc.
Updated: Tuesday, November 27, 2001 11:46 AM ET Printer-friendly version
APACHE JUNCTION, Ariz.--(BUSINESS WIRE)--Nov. 27, 2001--UniPrime Capital Acceptance Corp. (NQB: UPRC) ("UPRC") Tuesday announced that it has executed a definitive stock purchase agreement for the acquisition of Sec2Wireless Inc. ("S2W").
It is expected that the closing will occur by Dec. 15, 2001. S2W is a private limited liability company headquartered in Delaware, with a wholly owned subsidiary located in Israel. S2W has developed a state-of-the-art technology for centralized user authentication and monitoring which provides in a single design the ability to recognize a person's identity.
S2W's technology can be applied for physical access (airport/transportation or corporate campuses) for remote information access (Internet, call-center or cellular based), and transaction-based services (e-commerce, m-commerce, cellular vending or point-of-sale).
In so doing, it provides state-of-the-art technology to enhance existing security systems and ease migration to new solutions for security issues. Pursuant to the terms of the transaction, S2W's shareholders will transfer all of their outstanding shares to UPRC.
In exchange for their shares, S2W's shareholders shall each receive such number of shares so that upon the closing of the transaction they will own in the aggregate a majority of UPRC's outstanding share capital and will acquire control of UPRC. Also, upon the closing, the management and board of directors of S2W will replace UPRC's current management.
S2W has raised approximately $3.2M in private placements since its incorporation in February 2000. One of Secure2Wireless's major investors is Shamrock Capital Growth Fund. The Shamrock group has led successful private equity transactions across a broad range of industries both domestically and internationally.
Shamrock's foundation, as the advisor to a distinguished family, the Roy E. Disney family, has established a steep tradition of integrity, service and responsibility to its investors and portfolio companies. The Shamrock group has successfully invested more than $2 billion over the past two decades in both private equity and real estate transactions.
CONTACT: UniPrime Capital Acceptance Corp.
Jay Clark, 480/898-4285
.......According to the Great Pumpkin, ".....You're in .....iHub....., Charlie Brown....."!!!
AI
.......According to the Great Pumpkin, ".....You're in .....iHub....., Charlie Brown....."!!!
