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ELUTIONS enters into a definitive agreement to acquire the Wizcon Systems business
Tampa, FL – May 26, 2006 – On May 26th 2006, ELUTIONS Inc. entered into a definitive agreement with ITA Holdings Inc for the acquisition by ELUTIONS of all of the outstanding shares of Supervisor Holdings Ltd., a wholly owned subsidiary of ITA Holdings. Supervisor Holdings is the parent company of the Wizcon Systems business unit of ITA Holdings, headquartered in Lyon, France and with operations in the United Kingdom and the Netherlands. Upon closing of the transaction, ELUTIONS will effectively acquire, through its shareholding in Supervisor Holdings, all of the assets and liabilities of the Wizcon Systems business.
The transaction and the definitive agreement have been unanimously approved by the boards of directors of ITA Holdings and ELUTIONS. The board of directors of ITA Holdings has recommended that the ITA Holdings stockholders approve the transaction. The transaction, which is expected to close in early August, is subject to customary closing conditions, including approval by ITA Holdings' stockholders.
About ELUTIONS Inc.
ELUTIONS Inc. is a leading provider of enterprise automation
solutions with expertise in control of energy, management
of fixed and mobile assets and workforce automation, using
advanced technologies such as communications enabled end
devices, wireless backhaul services and enterprise / ASP
hosted applications. ELUTIONS' offerings include telemetry
and control solutions used in the tracking and control of
mission critical assets by global enterprises, work force
automation, tracking and safety applications. ELUTIONS'
real-time wide area energy management solutions are used
by retail, commercial and industrial companies worldwide.
Headquartered in Tampa, Florida, ELUTIONS is a wholly owned
subsidiary of privately held Engage Networks Inc. More information
is available at www.elutions.com.
About Wizcon Systems
Since 1988, Wizcon Systems has helped manufacturing and
service organizations increase revenue while lowering costs,
by proactively monitoring and managing devices or processes
at sites around the world. Wizcon Systems' flagship software
product, the Wizcon(R) Supervisor(TM) suite (previously
known as Axeda Supervisor) with its core SCADA/HMI component
Wizcon for Windows and Internet, is a complete Internet-based
open solution for control and information used in markets
such as Building Automation and Facility Management, Cooling
& Refrigeration, Water & Waste, Large Infrastructure
management, Industrial Automation and Machine Builders.
Wizcon Systems has sold more than 45,000 licenses of Wizcon
for Windows and Internet through sales and service offices
in the US and Europe, and distribution partners worldwide.
More information is available at www.wizcon.com
