Bluehill ID AG
BLUEHILL ID AG TO TAKE OVER SCOLIS TECHNOLOGOIES COMPLETELY
Bluehill ID AG / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- BLUEHILL ID AG TO TAKE OVER SCOLIS TECHNOLOGOIES COMPLETELY St. Gallen, Singapore 2 October 2008 – Bluehill ID AG (Symbol BUQ.F / BUQ.DE; www.bluehill-id.com) announced today that it entered into an agreement to acquire the remaining shares of SCOLIS Technologies. SCOLIS is headquartered in Singapore with its core R&D team located in Chennai, India, and focuses on developing and manufacturing leading-edge ePassport, access control & NFC enabled readers and modules as well as secure identification solutions. SCOLIS solutions are based on contact and contactless smartcard technology and RFID readers for applications requiring critical performance criteria. Bluehill ID entered the company as an investor in April 2008 and after few months of excellent collaboration, the founding investors and managers have agreed to exchange their holding in SCOLIS for shares in Bluehill ID in accordance with a pre-agreed formula. SCOLIS Technologies was founded in September 2006 by a group of highly experienced engineers form the smartcard & identification industry and was backed by a selected group of investors from the USA and Dubai. Victor Jayakaran, the SCOLIS Founder and President commented: 'We have been working closely with the Bluehill ID team and portfolio companies for several months and we feel that our original goals from SCOLIS are best accomplished within the Bluehill ID umbrella. We speak the same language with respect to technology, growth, commitment to the industry and our people. I am really pleased that our original investors are continuing with us as new investors in Bluehill ID.' Ayman S. Ashour, CEO of Bluehill ID, commented: 'SCOLIS Technologies adds to Bluehill ID a very important technology foundation particularly in ePassport, physical access and NFC areas. The last few months confirmed to us that this is the right decision for all of the stakeholders and we are particularly pleased to add not only SCOLIS to our portfolio but also a group of talented and experienced investors.' About Bluehill ID AG Bluehill ID AG is an international company with headquarters in Switzerland and listed on the Frankfurt Stock Exchange (Symbol BUQ.F / BUQ.DE; www.bluehill-id.com). Bluehill ID is dedicated to the responsible use and development of RFID and other automatic identification technologies in the security, national identification, tracking and other growing applications. The business model of the company is based on combining disciplined acquisitive growth with strong organic growth from portfolio companies. Contact Fabien B Nestmann Tel: +41 44 78 38 043 eMail: fbn@bluehill-id.com Internet: www.bluehill-id.com 02.10.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Bluehill ID AG Dufourstr. 121 CH-9001 St. Gallen Schweiz Phone: +41 44 783 8043 Fax: +41 44 783 8040 E-mail: contact@bluehill-id.com Internet: www.bluehill-id.com ISIN: CH0031958629, CH0038439490 WKN: A0MUR7 Listed: Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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