TERADYON, ISRAEL – November 1, 2005 – B.O.S. Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC, TASE: BOSC), announced today that following the exercise of a put option by Telsys Ltd., it has entered into and closed a transaction pursuant to which it shall acquire the remaining shareholdings of Telsys Ltd. in Odem Electronics Technologies 1992 Ltd. (“Odem”), a subsidiary of BOS, in consideration for a cash payment in the amount of $554,105, thus increasing its holdings in Odem from 87.7% to 100%. Previously, in September 2005, BOS had increased its holdings from 64% to 87.7% by purchasing the holdings of another Odem minority shareholder.
Adiv Baruch , President and CEO of BOS commented: “Odem is continuing to expand its overseas activities and there is a growing demand for its products. We strongly believe that this is a promising investment and that Odem is becoming one of the fundamental growth engines within BOS”.
Edouard Cukierman, Chairman of the Board, said “A year ago we decided to invest in Odem and since then it has significantly increased its profitability. We believe that this trend will continue, and are pleased with the opportunity to increase our stake”.
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 BOSaNOVA 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, www.boscorporate.com is traded on NASDAQ (NASDAQ: BOSC) and on the Tel-Aviv stock exchange (TASE: BOSC).
For further information, please contact:
Mr,. Emanuel Kahana
Gelbart-Kahana Public Relations &Investors Relations
Tel. +972-3-6074717, e-Mail: firstname.lastname@example.org
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.