LAS VEGAS, May 10, 2000 (PRIMEZONE) -- At a press conference held this morning at NetWorld+INTEROP 2000, SynData Technologies Inc. announced that the Emrpise Group (Neuer Market:ERI.WPK) headquartered in Hamburg, Germany, has agreed in principle to invest $5 million U.S. in SynData. Terms of the agreement are still under negotiation and are subject to approval by both boards.
Emprise will also offer SynData's SynCrypt Secure(tm) products through their subsidiary operations.
As part of the initial relationship, SynData and EDCO Group, Inc., one of Emprise's consulting subsidiaries, will establish joint ventures in South America, South Africa, and Canada. In these joint ventures, EDCO will provide consulting, systems integration, and IT services supplemented by SynData's information security products.
"We believe that SynData, as a strategic partner, offers the most comprehensive security solutions for Emprise and its subsidiary companies. We look forward to the joint venture opportunities and the new revenues this will bring to the Emprise Group," stated Gerd Nicklisch, CEO of Emprise Management Consulting.
"SynData welcomes the opportunity of integrating its security products within the Emprise constellation of companies," noted A. David Romanoff, CEO of SynData Technologies Inc. "We are impressed with the breadth of the Emprise Group's reach within so many vertical markets," he concluded.
Founded in 1995 by A. David Romanoff, SynData's line of SynCrypt products provides companies with the ability to protect information end-to-end, whether it's on the desktop, laptop, server, or accessible over the Internet. SynData is a privately-held company based in Teaneck, New Jersey, with sales offices in California, Minnesota, Massachusetts, Georgia, and Texas and will sales representatives covering Canada, the Caribbean, Latin America, and Europe.
Emprise Management Consulting Group provides services in the areas of system design, system integration, and management/workflow consulting. As a leading SAP integrator, Emprise and its many companies have highly specialized turn-key solutions for vertical markets including healthcare management, franchise dealerships, financial institutions, and e-commerce. Based throughout Germany, Europe and with offices in South Africa and the United States, Emrpise's combination of advanced custom software and consulting have earned them the highest recommendations from dozens of large clients and over 15 strategic partners.