KELOWNA, British Columbia, April 16, 2002 (PRIMEZONE) -- Secure Enterprise Solutions Inc. (the "Company", or "SETP") (OTCBB:SETP) is pleased to announce that it has entered an agreement with Secured Infrastructure Design Corporation (SIDC) of Tokyo, Japan, to acquire up to a 51% interest in SIDC.
Secure Enterprise Solutions further announces that an initial cash payment has been made and that the Company has now acquired 10% of SIDC.
SIDC is a Tokyo-based security consulting firm with an expanding client base that specializes in security policy development, network vulnerability testing, and secured infrastructure design for Japanese and multi foreign national organizations.
Jim Kootnekoff, CEO of SIDC, had this to say: "We are excited to have become part of the SETP family and look forward to our ability to make a significant contribution to the group. The security market in Japan is in fast forward now and with this agreement in place we are positioned better then ever to be able to deliver the proven security products and services available through SETP. SIDC is on its way to meeting its revenue targets and projects revenues of U.S. $ 2,000,000 by year end 2002.
Chris Bunka, CEO of Secure Enterprise Solutions, said: "This is an exciting period for us. We are building a global security practice to offer our clients the very best security solutions they deserve, wherever they might be located. SIDC has demonstrated its expertise and commitment to quality and we are honored to have reached this agreement."
Secure Enterprise Solutions has the right to purchase 51% of SIDC through a series of cash and equity payments.
Secure Enterprise Solutions is rapidly assembling one of the most exciting security-focused companies in the world. It has recently announced partnerships with leading security providers such as BioID AG of Germany; Baltimore Technologies of England; and International e-Business Platform Corporation of New Jersey.
The Company and its partners offer a full suite of security audits, installations, integrations, and management products and services both through proprietary internal and licensed technology, and through its world-class partners. Secure Enterprise Solutions is targeting primarily mid-sized and large corporations and government organizations as potential clients of its products and services.
Secure Enterprise Solutions Inc. is a security solutions provider that expects to compete against firms such as Checkpoint Software (Nasdaq:CHKP); Network Associates (NYSE:NET); and Verisign (Nasdaq:VRSN); among others.
The Company remains engaged in other partnering and acquisition discussions and will release additional information on these and other matters as available.
For corporate information contact Chris Bunka, CEO 250-765-6424, or chris.bunka@weprovidesecurity.com or examine the website at www.weprovidesecurity.com
This press release includes forward-looking statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Inherent risks and uncertainties could cause actual results to differ materially from the forward-looking statements. Such risks and uncertainties are described in the periodic reports the Company files with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.