HOLLYWOOD, FL / ACCESSWIRE / December 30, 2015 / Aluf Holdings, Inc. (PINKSHEETS: AHIX) today announced that it has entered into a definitive agreement with Triad Biometrics, LLC, a biometric software innovator formed in 2004, to acquire its assets consisting of intellectual property and software products including "undefeatable" FIPS 140-2 Suite B military grade encryption, among other ground breaking features. This announcement stems from the previously reported LOI that Aluf Holdings, Inc. signed with Triad Biometrics on August 20th.
Pursuant to the terms of the Purchase Agreement, the Company will pay Triad US$3,750,000 for the Assets. Closing of the Acquisition is subject to, amongst other things, the completion of satisfactory due diligence by the Company, and the Company securing satisfactory financing.
Aluf Holdings, Inc. is the creator of proprietary software with installations worldwide. The definitive agreement lays the foundation for the transferal of Triad's assets to a newly formed subsidiary, Aluf Biometrics, Inc., that will develop and enhance a suite of next generation biometric identification and authentication products. Aluf Holdings' business plan is focused on the profitable operation and management of subsidiary companies in the development of proprietary groundbreaking software that businesses and individuals will find unsurpassed in function and usefulness.
Teresa McWilliams, CEO of Aluf Holdings stated, "This definitive agreement is consistent with the Company's strategic plan to aggressively achieve profitability and growth through insightful value added mergers and acquisitions."
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. The goal of AHIX is to strategically acquire profitable businesses with strong growth potential and a solid business plan in the software and technology industries. For information, visit www.alufinc.com.
Safe Harbor Statement:
This release may contain "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and of Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief, or current expectations of Aluf Holdings, Inc. and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully in its market segment, and the ability to complete some or all of the before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results.
Corporate Contact: Aluf Holdings, Inc. Teresa McWilliams, CEO 866-793-1110 Investor Relations Contact: High Point Communication 858-381-4677 SOURCE: Aluf Holdings, Inc.