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Biometrics 2000, Inc. Begins Joint Venture/Marketing Agreement with Autostar

Thursday 15 January 2004 22:57 CET | News

Biometrics 2000 Corporation (BIO) has entered into an international distribution agreement with Saudi Operations and Maintenance Company (SOMC), which is owned and operated by His Highness Khalid Bin Fahd Al-Failsal.

The agreement gives SOMC the right to distribute BIO products and services in 11 countries throughout the Middle East. The countries include Bahrain, Cyrus, Egypt, Iraq, Jordan, Lebanon, Kuwait, Oman, Quatar, Syria and Yemen. SOMC will be responsible for marketing in the Middle East region, and will employ its regional sales forces to sell BIO product. BIO is in the process of completing a merger with VillageWorld.com. Terms of the merger agreement provide that BIO will merge into a wholly owned subsidiary of VillageWorld and in exchange the shareholders of BIO will be issued shares of VillageWorlds Common Stock that will approximate 55 percent of the outstanding shares of VillageWorld following the transaction, calculated on a fully diluted basis.


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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce