Nasdaq Notifies Company of Compliance With Continued Listing Requirement
TERADYON, Israel–(BUSINESS WIRE)–Nov. 18, 2004–B.O.S. Better On-Line Solutions Ltd. (“BOS” or the “Company”) (Nasdaq:BOSC – News; TASE:BOS), a global developer of high quality communication solutions, announced today the Closing of the transaction for the purchase of 63.6% of the issued and outstanding shares of Odem Electronic Technologies 1992 Ltd. (“Odem”), from Odem’s existing shareholders. Odem, an Israeli private company, is a major solution provider and distributor of electronics components and advance technologies in the Israeli market. The details of the transaction are as previously disclosed in the Company’s press release of November 3, 2004.
Additionally, the Company announced that it has received notice from the Nasdaq Stock Market certifying that it has regained compliance with the continued inclusion requirement of minimum market value of publicly held shares of $5,000,000.
Through its wholly owned subsidiary, BOScom, the Company develops, produces and markets multi-functional, cross-enterprise communication and networking products. Marketed under the BOS?NOVA brand, these products are renowned for their simplicity of use, quality, and reliability.
Communication line offers innovative convergence migration solutions that leverage a corporation’s existing equipment infrastructure.
The Connectivity line provides solutions for IBM midrange-to-PC and LAN connectivity and GUI emulation, and printing solutions that are operating system-independent.
Software Utilities line provides solutions for document design, distribution and management for a wide range of operating systems, including mainframe and UNIX.
B.O.S. (www.boscorporate.com) was established in 1990 and became a public company traded on the Nasdaq National Market in 1996 (Nasdaq:BOSC), and on the Tel Aviv Stock Market in 2002 (TASE:BOS).
ODEM electronic technologies 1992 ltd. (Odem), is a leading Israeli distributor of advanced electronic and electromechanical components to local and global customers in the defense, telecommunication and imaging industries. Odem currently represents over 30 major international suppliers of electronic and electromechanical components, information technology network equipment and image processing products. Among the companies represented are Texas Instruments Inc. and Honeywell International Inc. Odem is heavily involved in design-in process with many of the electronic manufacturers in Israel. The qualified management and technical staff of Odem posses significant know-how and the experience needed for this task. Odem brings new technologies such as RFID and wireless communication to the markets.