SEATTLE, Jan. 25, 2006 (PRIMEZONE) -- TechAlt, Inc. (OTCBB:TCLT) and Ascentry Technologies, Inc., a Washington corporation ("Ascentry") jointly announced that they have entered into a letter of intent proposing a merger whereby TechAlt would issue thirty-five percent of its common stock in exchange for all the issued and outstanding shares of Ascentry.
Under the plan of merger, Ascentry would change its name to "TechAlt Security Technologies, Inc." and would become a wholly owned, operating subsidiary of TechAlt.
Ascentry is a wireless interoperable communications company implementing its platform software and security solutions, primarily serving first response teams in public safety and in physical security agencies and organizations, as well as federal, state, and local governments. Ascentry seeks to create environments where both equipment and individuals can communicate, regardless of platform. Ascentry creates value through linking together existing equipment and merges it with new technologies, without having to replace entire systems to gain the benefits of digital control, collaboration, and creation.
David Otto, President of TechAlt, Inc. explained, "The proposed acquisition of Ascentry is an important step in TechAlt's plans to diversify its opportunities in the homeland security sector through the acquisition of proprietary, sustainable security technologies."
In announcing the merger, Federico Pacquing, President of Ascentry, stated that, "Ascentry is excited about the opportunities TechAlt provides in terms of further access to the homeland security market. Our customers and partners will benefit from the added knowledge and expertise TechAlt brings in homeland security and in providing operational product support and related technologies. I believe that the proposed combination creates synergies beneficial to the shareholders of both companies and the unified vision of both companies' management."
The proposed transaction is subject to customary closing conditions, including approval by Ascentry's stockholders.
About the Company
TechAlt, Inc. seeks to deploy mission critical technology that provides video, voice, and data in various homeland security-related markets. TechAlt is targeting a secure wireless communications toolset to be used by emergency first responders for interagency interoperability, communication and collaboration. TechAlt's mission is to deliver a complete technology solution for a wide range of security solutions by developing, implementing and acquiring various technologies. Please visit our web site at http://www.techaltinc.com. For additional information on Ascentry, please visit the Ascentry web site at http://www.ascentry.com.
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