SEATTLE, Feb. 22, 2006 (PRIMEZONE) -- TechAlt, Inc. ("TechAlt") (OTCBB:TCLT) and Cypher Wireless, Inc., a Washington corporation ("Cypher"), jointly announced that they have closed an acquisition agreement whereby TechAlt will issue thirty-five percent of its common stock in exchange for all the issued and outstanding shares of Cypher. In accordance with the acquisition, Cypher intends to change its name to "TechAlt Security Technologies, Inc." and will conduct its business as an operating subsidiary of TechAlt.
Cypher was recently formed to acquire the assets of Ascentry Technologies, Inc., a five year-old technology communications company focusing on the Homeland Security market. Cypher is an innovator in communication software and security solutions, primarily focusing within the communications platform to serve first responder teams in public safety, physical security organizations across a variety of industries, and federal, state and local governments. Cypher's software and technology solutions create environments where both equipment and individuals can communicate, regardless of platform. The company's solutions create additional value by linking together existing equipment and 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 acquisition of Cypher marks 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 acquisition, Federico Pacquing, President of Cypher, stated that, "Cypher is excited about the opportunities TechAlt will provide 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 new TechAlt Security Technologies plans to continue to create partnerships and build customer relationships in the Homeland Security market. The initial focus will be on further developing partnerships that both create new sales channels as well as augment the products that TechAlt offers. The company hopes to gain significant traction with key customers such as government public safety customers, private security organizations, sports venues and the military.
About the Company
TechAlt, Inc. seeks to become the market leader in bringing safety and security solutions to the Homeland Security market through innovative alternative technology. TechAlt Security Technologies seeks to deploy mission critical technology that provides video, voice and data in various homeland security-related markets. TechAlt Security Technologies is targeting a secure wireless communications toolset to be used by emergency first responders for interagency interoperability, communication and collaboration. The company'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.
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