FLO Corporation Acquires Unisys 'rtGO' Registered Traveler Solution
2007年10月9日 - 10:00PM
PRニュース・ワイアー (英語)
CHANTILLY, Va., Oct. 9 /PRNewswire/ -- FLO Corporation, a
Registered Traveler (RT) program services provider, today announced
the execution of an agreement under which FLO will acquire the
"rtGO" RT business of Unisys Corporation (NYSE:UIS). The
transaction will provide FLO with world-class technology to
complement the extensive marketing and distribution power of the
FLO Alliance -- a strategic partnership of industry leaders in
technology, finance, security and infrastructure. Under terms of
the agreement, FLO will purchase the rtGO technical solution and
will make ongoing royalty payments to Unisys through 2015. The
transaction also includes an information technology services
relationship between the parties whereby Unisys will serve as a
subcontractor to FLO. FLO Chief Executive Officer Glenn Argenbright
stated, "I think everyone in this industry recognizes the proven
technical strength of the rtGO solution from Unisys. Adding that
platform to our existing marketing relationships and distribution
engine provides a vividly different alternative to the choices
available today, while strengthening the competitive structure of
the RT industry as a whole. What's more, we are excited to bring to
market the next generation of the program -- RT 2.0." FLO believes
this acquisition represents another important milestone in its
growing role as an influential participant in the RT industry. In
recent months FLO has been very active in growing and financing its
RT capabilities in order to be ready for the expected increase in
market demand for RT solutions from major airports across the
country. In April 2007, FLO acquired the RT assets of Saflink
Corporation (SFLK.OB). Senior sales and marketing roles were filled
by FLO, and FLO entered into a series of teaming agreements with
Unisys in connection with FLO's proposals to various airports for
the design and implementation of RT programs. Most recently, FLO
moved its corporate headquarters to Chantilly, Va., and initiated
the process of becoming a public reporting company by filing a
registration statement with the Securities and Exchange Commission.
This October 5, 2007 asset purchase agreement with Unisys is
subject to customary conditions to close, including the consent to
assignment of certain agreements and the approval of the U.S.
Department of Homeland Security to the transfer of the
certification and designation of Unisys's RT technology under the
SAFETY ACT. The parties expect to close the transaction during the
fourth quarter of 2007. Mr. Argenbright continued, "Over the last
year, we've been working to create a new and powerful option in the
emerging RT marketplace. As we look forward, we plan to expand from
our current strategy of acquisition and financing into a mode more
heavily focused on growth and public restructuring. We believe FLO
will represent the only publicly-held 'pure play' for investors
interested in this new and innovative RT industry after FLO becomes
a public reporting company." In anticipation of this agreement with
Unisys, FLO previously shifted its business focus to the marketing
and corporate outreach necessary to drive RT adoption. As a result,
the team will be commencing enrollment activities at major
corporate headquarters in the coming weeks. FLO has signed numerous
agreements with Fortune 1000 corporations in major U.S. markets.
The agreement with Unisys allows FLO to leverage the rtGO platform,
which has obtained all industry certifications necessary to operate
in this emerging market, including Safety Act Certification granted
by the Department of Homeland Security. This transaction
demonstrates FLO's commitment and belief in the RT program and the
security mission the TSA has intended for it. Luke Thomas, FLO
Executive Vice President stated, "Our multi-tier benefits approach
responds to the TSA's challenge to provide a program with broad
market appeal. We look forward to meeting the challenge
Administrator Kip Hawley recently laid out for the RT industry in
his call for greater creativity and innovation. We applaud his
vision and look forward to our continued work with him and the TSA
RT Program Management office." Jean Covelli, Travel Administrator
for Buffalo, New York-based Rich Products Corporation, added, "RT
is one of the few opportunities to move passengers expeditiously
into the secure sides of airports supporting TSA safety and
security missions while helping business travelers recapture the
productivity that has been lost in the post 9-11 era. We need a
financially strong and innovative RT industry to achieve a critical
mass of RT members and success at the national level. The
FLO-Unisys transaction and the next-generation RT 2.0 solution
should help ensure the program's success." About Registered
Traveler For information about how RT works visit
http://www.fastlaneoption.com/how_it_works/index.html. About FLO
FLO Corporation provides a comprehensive solution for the
Registered Traveler program, which is administered by the U.S.
Transportation Security Administration. The Registered Traveler
program is designed to identify air passengers who pose a minimal
security risk and then to provide those passengers with access to
faster and simpler processing at airport security checkpoints. FLO
Corporation has formed the "FLO Alliance" -- strategic
relationships with several companies with extensive expertise in
credentialing, security, access control, travel services, political
lobbying, and corporate and consumer marketing -- designed to
develop, market, sell and deploy an end-to-end solution and to
provide next-generation RT 2.0 membership benefits to qualified
individuals for expedited security screening in designated lanes at
participating airports in addition to receiving promotional offers
and discounts offered by retail partners. The FLO Alliance
partnership consists of FLO Corporation, Microsoft, JPMorgan Chase,
Johnson Controls, Inc., Smiths Detection Inc., The Paradies Shops,
International RAM, and ID Technology Partners. For more information
about the FLO program and Alliance visit
http://www.fastlaneoption.com/. NOTE REGARDING FORWARD-LOOKING
STATEMENTS This press release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's current
expectations and involve risks and uncertainties. Forward-looking
statements include statements regarding anticipated growth and
business prospects for FLO Corporation's Registered Traveler
program and solution. Actual results may differ materially from
those expressed or implied in such forward-looking statements due
to various factors, including: FLO Corporation's success in
designing and offering a comprehensive Registered Traveler
solution, its ability to obtain the necessary financing for its
operations, and its ability to close the rtGO acquisition and
integrate the rtGO Registered Traveler solution with its solution.
Investors should consult FLO Corporation's filings with the
Securities and Exchange Commission, http://www.sec.gov/, including
the risk factors sections of its registration statement on Form
10SB for further information regarding these and other risks of FLO
Corporation's business. NOTE REGARDING TRADEMARKS "Saflink" is a
registered trademark and "FLO" is a trademark of FLO Corporation.
The names of actual companies mentioned herein may be the
trademarks of their respective owners. DATASOURCE: FLO Corporation
CONTACT: Kevin Mitchell, +1-610-341-1850, , for FLO Corporation Web
site: http://www.fastlaneoption.com/
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