The Evermedia Group, Inc. Announces Full and Direct Ownership of Defense Contractor System Technology Solutions, Inc.
Oct 18, 2010 7:45:00 AM
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Email story | Discuss on ZenoBank | View more ads BOSTON, MA -- (MARKET WIRE) -- 10/18/10 -- The Evermedia Group (PINKSHEETS: EVRM) is pleased to announce its 100% ownership of System Technology Solutions, Inc. (STS). This development follows a September 11, 2009 announcement in which The Evermedia Group had previously acquired an 80% stake in the San Antonio-based company.
Whereas, previously, The Evermedia Group held a majority position in STS through STS's parent holding company, The Evermedia Group currently owns 100% of STS directly through an exchange of restricted stock. Pursuant to the agreement, STS President Richard (Dick) Weitzel was appointed co-President of The Evermedia Group while continuing his duties as President of STS. Moving forward, STS will be designated a wholly owned company of The Evermedia Group.
Commenting on the agreement, Jonathan Sym, CEO of The Evermedia Group, Inc., said, "Dick has done an amazing job advancing STS to its current place in defense contracting. During our professional relationship, I've watched STS grow to the extent that STS can accommodate the needs of not only small companies but Fortune 100 companies as well. I welcome Dick's continuing guidance on expanding this joint effort."
President of STS Richard Weitzel added, "Internally, aggregating our assets has proven successful. This development marks the final stage of an idea that began years ago. I believe in Jonathan, Evermedia Biometrics, and the future of STS. To have capabilities as a biometric provider and a successful defense contractor is amazing in its own right and, given our service disabled designation, we're a truly unique company."
About Evermedia Biometrics Corporation
Based in Boston, MA, Evermedia develops biometric-based identification management and authentication solutions using proprietary, patent-protected iris recognition technology. Evermedia is involved in the development of biometric-based systems to protect personal identity. The company's proprietary technology is patented in the United States, China and South Korea. Evermedia Biometrics Corporation is a wholly owned company of The Evermedia Group, Inc.
About System Technology Solutions
Based in San Antonio, TX, STS is a defense contractor providing engineering, logistics, IT and security services to government and large commercial enterprises. STS also provides technical design, program management and security services globally. STS is wholly owned by the Evermedia Group, Inc.
Contact:
For additional information:
Evermedia Biometrics Corporation
Email: info@evrm.us
Visit: www.evrm.us
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