Spectra Systems Corporation To Acquire Key Assets From ESI Integrity

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• Publié par: spectra-systems-corporation
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• Langue: English

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Spectra Systems Corporation To Acquire Key

Assets From ESI Integrity

PR Newswire

PROVIDENCE, Rhode Island, June 6, 2012

- THE ACQUISITION FURTHERS COMPANY STRATEGY OF EXPANDING

SPECTRA'S PRODUCTS BEYOND PHYSICAL BANKNOTES SECURITY TO

SECURE TRANSACTIONS SOFTWARE PRODUCTS FOR GAMING,

BANKING, AND CENTRAL BANK APPLICATIONS

PROVIDENCE, Rhode Island

,

June 6, 2012

/PRNewswire/ -- Spectra Systems

announced that it has acquired with effect from

June 1

, certain assets from ESI

Integrity, in the gaming software security industry. Spectra will acquire all of

the assets of ESI Integrity, including its proprietary source codes, multi-year

contracts and long-standing customer relationships.

The ESI Business, which is headquartered in

Vancouver, Canada

, is in the

gaming software security industry and has a 22 percent worldwide market

share of the secure Internal Control Systems (ICS) segment primarily with

international lotteries, including

Norway

,

Greece

,

South Africa

,

Russia

, Korea

and

Taiwan

.

ICS is a secure, high speed data platform which plays a critical independent

security role in auditing online lottery and many other gaming systems

including pari-mutuel platforms. ICS provides tools for fraud detection, money

laundering, match fixing, and statistical analysis and has many existing parallel

applications used by the securities exchange industry. The ESI Business ICS

contracts are multi-year and its independent services are used to verify the

accuracy of transactions logged by providers of lottery and gaming services

worldwide, including INTRALOT, SCIENTIFIC GAMES and GTECH.

"The expansion of Spectra's secure transactions products beyond physical

banknotes to secure software products for gaming will allow us to utilize our

blue-chip credentials with central banks to gain market share for the ICS and

other software development throughout the gaming world," said Nabil

Lawandy, CEO of Spectra Systems Corporation. "The board considers this to be

an exciting acquisition for Spectra which will make a significant contribution to

our future profits, both directly and through the elimination of duplicated costs.

In addition, we believe that we will be able to expand on our decade long

relationships with central banks to offer our existing customers as well as

commercial banks and the securities industry new software based products

providing real time analysis of banknote and other transaction data aimed at

increased visibility leading to higher security, efficiencies and cost savings."

"With governments seeking to raise more revenues from their constituents, we

believe that this business area will continue to grow and provide additional

stable security-based revenue for the foreseeable future," Lawandy said.

ESI's Integrity software will play a role in Spectra's new Secure Transactions

Group to be headed by Scott Tillotson. Tillotson has more than 20 years of

technology experience working for Spectra, GTECH and IBM and combines both

a deep understanding of the lottery and gaming industry as well as IT product

and banknote security.

"We will continue our service to our valued ICS customers in a seamless

fashion," said Alan Ahac, managing director of Spectra Integrity. "The ESI team

is delighted that it can leverage its gaming security capability to be part of one

of the companies that brings the highest level of integrity and security to the

gaming and banking markets."

The online gaming market represents one of the fastest growing segments of

the industry. Estimates put the size of the global online gaming market to hit

$30 billion

by 2012 and some of the biggest potential markets—such as

the

United States

,

China

, and

Japan

still prohibit many forms of lottery and gaming

over the Internet but this may soon change. Spectra believes this market is

poised for increasing demand for independent security and audit software to

support Internet-based gaming in regulated markets in

Europe

,

Asia

,

Latin

America

and now

the United States

.

For more information, visit at: www.spsy.com