FT. LAUDERDALE, Fla., Sept. 13, 2022 (GLOBE NEWSWIRE) — Aluf Holdings, Inc. announced today that it has terminated the Common Stock and Asset Purchase Agreement by which it had agreed during December 2021 to acquire ITBiometrics, Inc.
Closing under the Purchase Agreement had been subject to a number of conditions and although the parties have worked collaboratively over the past 10 months, certain material closing conditions under the Purchase Agreement have not been met as required. Accordingly, we have determined that it is in the best interest of Aluf Holdings and our shareholders to cease pursuing the transaction.
“Although we have terminated the Purchase Agreement with ITBiometrics, we remain fully committed to the expansion of our technology platform through the acquisition of suitable businesses, including those within the biometric space”, states Sam Jakobs, CEO for Aluf Holdings.
About Aluf Holdings, Inc.:
Aluf Holdings, Inc. is a publicly traded holding company whose core competency is to acquire, manage and propel “Next Gen” technology companies into the future. Our focus includes Biometrics, Cybersecurity, Computer Vision, and Software/Hardware verticals.
For more information go to www.aluf.com.
