Sentex Sensing Technologies Signs Binding MoU to Acquire Vitelcom Mobile Technology
CLEVELAND and MALAGA, Spain - Henrik Rubinstein, president of Sentex Sensing Technologies signed a Memorandum of Understanding to acquire Vitelcom Mobile Technology and their subsidiaries Purple Labs (France) and Vtech Holding (Mexico). This acquisition will support the future sale of biometrics driven Sentex Mobile products. Carlos Carrero, the sole shareholder of Vitelcom agreed in a "firm and binding" MOU to exchange shares of SNTX.OB for 100 percent of Vitelcom's common shares.
By virtue of this binding Letter of Intent, engineered by Balmoral Capital Holdings and Miramar Capital, Vitelcom becomes a new subsidiary to SNTX.OB. Vitelcom produced over the last four years cumulative revenues in excess of $1.1 billion dollars.
The deal is subject to completion via comprehensive acquisition documentation.
Sentex Sensing Technologies is a multimodal biometric technology company. Sentex provides fingerprint, facial, and voice biometric technologies.