TERADYON, ISRAEL – September 29, 2005 – B.O.S. Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC, TASE: BOSC), announced today that it has entered into and closed a transaction pursuant to which it shall acquire the remaining shareholdings of Jacob and Sara Neuhof in Odem Electronics Technologies 1992 Ltd. (“Odem”), a subsidiary of BOS, in consideration for the issuance of 232,603 Ordinary Shares of the Company and a cash payment in the amount of $716,422, thus increasing its holdings in Odem from 64% to 87.7%.
Adiv Baruch , President and CEO of BOS commented that BOS has increased its holdings in Odem because it has proved to be a promising investment. “Odem has expanded its overseas activities and there is a growing demand for Odem products. We strongly believe that Odem is becoming one of the fundamental growth engines within BOS”.
Edouard Cukierman, Chairman of the Board, said “Odem is a profitable company and in the past 11 months since we first invested in the company, it has significantly increased its profitability.”
Mr. Cukierman added that “We believe that the trend of increase in Odem’s transactions will continue in the future”.
Additionally, the Company reported that its wholly-owned subsidiary, BOScom Ltd., has closed the transaction with Consist Technologies Ltd. and Consist International Inc. for the sale of its PrintBOS activities, formerly announced on July 18, 2005.
About BOS
B.O.S. Better Online Solutions Ltd. (the “Company” or “BOS”) (NASDAQ:BOSC; TASE:BOSC) was established in 1990. BOS develops and markets innovative products that improve enterprise communications and operations. Its activities are focused on two domains:
- Communications Products – providing easy to install and affordable VoIP and cellular gateways solutions for businesses. BOS communications products leverage existing infrastructure, radically reduce costs and facilitate operations.
- Connectivity products – marketed under the BOS?NOVA brand name. These products deliver instant and transparent connectivity from IBM iSeries computers to personal computers, thin clients and browsers.
In addition BOS supplies electronic and RFID components and technology design services through the ODEM Division, based on Odem Electronic Technologies 1992 Ltd., in which a controlling stake was acquired in November 2004.
BOS is traded on NASDAQ (NASDAQ: BOSC) and on the Tel-Aviv stock exchange (TASE: BOSC).
For further information, please contact:
Ms. Shelly Horkin
Gelbart-Kahana Public Relations &Investors Relations
Tel. +972-3-6074717, e-Mail: shelly@gk-biz.com
The forward-looking statements contained herein reflect management’s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS’ periodic reports and registration statements filed with the U.S. Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.