RFID Acquisition: Applied Digital's VeriChip Corporation Expands Distribution and ...

From Business Wire (press release), CA ... The company, through its HALO(TM) and Roam Alert(TM) technology, has already demonstrated the ability to market wireless identification, RFID, control, and ...

... Applied Digital (NASDAQ: ADSX), a provider of Security Through Innovation(TM), announced today that it has signed a binding letter of intent to acquire eXI Wireless, Inc. Once completed, this acquisition will add approximately 200 dealers and distributors to VeriChip Corporation, Applied Digital's wholly-owned subsidiary. These dealers and distributors already market eXI's proprietary security products like HALO(TM), ROAM ALERT(TM), ASSETRAC(TM), and HOUNDWARE(TM) to hospitals, nursing homes and commercial customers, respectively. Applied Digital expects the transaction to accelerate adoption of the VeriChip Health Information Microtransponder System for medical applications. Applied Digital has conducted extensive due diligence, but closing of the transaction remains subject to final documentation, eXI's board of directors' receiving a fairness opinion, and required approvals (including approval by eXI's shareholders and the BC Supreme Court). The companies expect that the transaction will close during the first quarter of 2005. ...

Applied Digital develops innovative security products for consumer, commercial, and government sectors worldwide. Our unique and often proprietary products provide security for people, animals, the food supply, government/military arena, and commercial assets. Included in this diversified product line are RFID applications, end-to-end food safety systems, GPS/Satellite communications, and telecomm and security infrastructure, positioning Applied Digital as the leader of Security Through Innovation. Applied Digital is the owner of a majority position in Digital Angel Corporation (AMEX: DOC). eXI Wireless Inc. is a pioneer in wireless identification, control, and location technologies that provide peace of mind to groups wanting to protect, track, and locate their individuals and assets. With over 20 years experience, eXI is behind some of the industry's first patient wandering, infant protection, and tool tracking systems uniquely combining radio frequency identification (RFID) and real-time location system (RTLS) technologies in its state-of-the-art, unobtrusive solutions. Through eXI's continued wireless innovation, end customers gain the protection, cost savings, operating efficiencies, and overall peace of mind they require when it comes to their people and assets. And vendors looking to improve their product offerings through the use of eXI's RFID technology gain the expertise and end result they require quickly and cost effectively.