Re: 18 companies
in response to
by
Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.
Message: 18 companies
Crossflo partners with companies like SAIC :
For Immediate Release
August 5, 2008
PATRIOT SCIENTIFIC AND CROSSFLO
SYSTEMS, INC. AGREE TO MERGER
CARLSBAD, CA. August 5, 2008 – Patriot Scientific Corp. (OTC BB: PTSC) and
Crossflo Systems, Inc., San Diego, California, a private software and services company
noted for its innovative data-sharing solutions, today announced that the companies have
agreed for Patriot Scientific to acquire Crossflo for stock and cash totaling $10 million.
The Boards of both companies have approved the merger agreement terms. The
acquisition is expected to be completed by September 1, 2008, subject to approval by the
Crossflo shareholders. Upon completion of the merger, Crossflo Systems will become a
wholly-owned subsidiary of Patriot Scientific and retain its current management team.
“We are evolving our business strategy to expand beyond licensing arrangements and to
develop an operational arm of the company,” said Rick Goerner, President and Chief
Executive Officer of Patriot Scientific. “With this first acquisition, we believe we have
identified a strategically sound investment and have created a foundation for growth that
is readily enhanced by other solution providers we are considering for investment and
acquisition.”
“Crossflo is building a base of leading clients and partners in justice and public safety,
homeland security and public health that have a critical need for secure, selective,
scalable and nondisruptive data-sharing,” said Renney E. Senn, Crossflo’s President and
Chief Executive Officer. “Becoming a part of Patriot Scientific allows us to expand our
resources to meet the burgeoning needs of that market, as well as to team synergistically
with other solution providers that will be affiliated with Patriot Scientific in the future.”
Crossflo Systems (http://www.crossflo.com) provides data sharing products and services
to the public sector. Current customers include such agencies as the New Jersey State
Police, the California Administrative Office of the Courts, and Hewlett-Packard. In
addition, Crossflo teams with companies such as SAIC, Lockheed Martin, Booze Allen
Hamilton and others to compete for state, local and federal projects.
Patriot Scientific, through its exclusive licensing agent The TPL Group, is an intellectual-
property licensing company with key patents covering the design of microprocessor chips
(The Moore Microprocessor Patent Portfolio, or MMP™ Portfolio). Patriot Scientific
had previously announced plans to use its share of revenues from the MMP Portfolio
licensing activity to invest in the future acquisitions of technologies and companies to
build an operating company aimed at sustained growth and profitability for the company.
1
Patriot Scientific currently owns 46% of SSDI, marketing its products under the Holocom
Networks brand, a provider of security enclosures for secure networking applications,
primarily to military, government agencies and defense contractors.
Patriot Scientific also recently announced that it has increased its ownership (from 15
percent to greater than 37 percent) in Talis Data Systems, LLC, a San Diego company
that produces multi-domain computer and network security products to government,
military and enterprise customers.
###
About Patriot Scientific
Patriot Scientific is a leading intellectual-property licensing company that develops,
markets, and enables innovative technologies that satisfy the demands of fast-growing
markets for wireless devices, smart cards, home appliances, network gateways, set-top
boxes, entertainment technology, automotive telematics, biomedical devices, industrial
controllers and more. Patriot is currently in the process of expanding beyond the
successful licensing program of the MMP™ Portfolio into an operating company through
M&A activity focused on opportunities in the software, networking and wireless
technology sectors. In addition to M&A, the company is evaluating selective expansion
of Patriot’s IP portfolio and also the pursuit of minority investments in certain early-stage
revenue technology ventures. Headquartered in Carlsbad, Calif., information about the
About Crossflo Systems, Inc.
About Crossflo
Crossflo Systems, Inc. provides data sharing solutions to the public sector. Crossflo’s
flagship product, the Crossflo DataExchangeо (CDX) solution, is commercial off-the-
shelf (COTS) middleware specifically designed for interagency and cross-domain data
sharing. Standards-based architecture and intuitive interface design enable end users to
strengthen control, selectively share information and rapidly connect disparate data
sources across multiple platforms. Crossflo solutions are backed by operationally
oriented professional services and expertise in HL7, NIEM, GJXDM, and IEPD
deployments. With Crossflo, agencies involved with Justice and Public Safety, Public
Health, and National Defense and Domestic Security are able to securely and rapidly
access unlimited data sources to provide an accurate picture of people, assets, situations
and events.
2
3
CONTACTS:
Paul Bibeau
Patriot Scientific
760/547-2700
Angela Hartley
Crossflo Systems, Inc.
858/724-2216 X223
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this
news release looking forward in time involve risks and uncertainties, including the risks associated with
the effect of changing economic conditions, trends in the products markets, variations in the
company's cash flow, market acceptance risks, patent litigation, technical development risks,
seasonality and other risk factors detailed in the company's Securities and Exchange Commission
filings.
Loading...
Loading...
New Message
Please
login
to post a reply