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CITY OF INDUSTRY, Calif. — (BUSINESS WIRE) — June 22, 2006 — Global ePoint, Inc. (Nasdaq: GEPT – News), a leading manufacturer of security technologies for the aviation, law enforcement, commercial and industrial markets, announced today that it completed the acquisition of the assets, including intellectual property and customer base, of Tops Digital Security (Tops), a privately held total solutions provider of large enterprise video surveillance systems that are designed primarily for high quality video capture and central monitoring security operations in the high-end commercial, industrial, and government electronic security markets. Tops anticipates it will generate approximately $8 million in revenue during the next twelve months.
TTops is located in Ontario, CA and has been in business since 2002. Tops’ customer base includes customers from the casino gaming, museum, and entertainment markets, including the Ramada Express Casino, Lakeside Casino, Augustine Casino, Golden Nugget Casino, San Diego SeaWorld Amusement Park, Biloxi Marine Life Park, Casino Morongo Resort & Spa and Casino Apache. Law enforcement facilities, such as the California Corrections & Rehabilitation, Sheriff’s emergency center, court houses; Home Builder, Capital Pacific Holdings, Redlands Municipal Airport, and mass merchandisers such as Sak's Fifth Ave, Marshall’s, Susie’s Casuals, Chick’s Sporting Goods.
Due to the high quality resolution of the recorded data, user friendly GUI and features, Tops systems allows security and surveillance operators to do a much more efficient job. "We welcome anyone to take our system and compare our features, resolution and ease of use to any other system. You can visibly see a difference, and this is why we’ve been making such headway into the vertical markets," said Allen Yung, Tops’ Executive Vice President.
"In the short time that the companies have been working together, I have been extremely impressed by the versatility of Tops’ technology and the broad range of markets that it can provide solutions for," said Toresa Lou, Global ePoint’s Chief Executive Officer. "The Tops platform provides us with the high level enterprise surveillance solution that will enable us to develop new opportunities in the lucrative casino gaming, museum, and government security markets. The acquisition further compliments our existing line of video surveillance products, positioning the Company for significant growth in this area. We look forward to seamlessly integrating the Tops product line into our portfolio of video surveillance products."
The Tops system is a total integrated solution that provides D1 high quality video recording capability, the highest level available, along with the front-end surveillance cameras, fiber optic cabling, and the command center application to network and control the hundreds of cameras used in high-security level projects such as museums, casino gaming and government installations. The Tops’ solution has proprietary video surveillance technology that efficiently integrates the ability to capture D1 quality video while maintaining a secure and fast system for recording, monitoring, managing, and archiving video surveillance. |
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Global ePoint designs, manufactures, sells and distributes digital video surveillance systems for the law enforcement, military, aviation and homeland security markets. On the cutting edge of digital technology, Global ePoint is developing new compression technologies and next-generation, secure network digital video systems and servers for a wide range of new markets, concentrating primarily on security and homeland defense applications. The Company also manufactures customized computing systems for industrial, business and consumer markets, as well as other specialized electronic products and systems. Complete vertical integration -- from design and manufacturing to sales and distribution -- allows the Company to capture efficiencies and maintain cost advantages in these growing markets, particularly homeland security. For more information, please visitwww.globalepoint.com
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, whether the Company gains traction in surveillance markets, whether its markets will become growth catalysts for Global ePoint and whether Tops achieves its target of generating $8 million in revenue over the next 12 months. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, Global ePoint’s success in capturing market share in these markets. For a discussion of these and other factors that may cause actual events or results to differ from those projected, please refer to the Company’s most recent annual report on Form 10-KSB and quarterly reports on Form 10-QSB, as well as other subsequent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur. |
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