Meridex Software Corporation

Meridex Software Corporation

October 10, 2007 09:00 ET

Meridex Software Finalizes Share Purchase Agreement to Acquire Savicon, Inc.

Meridex signs agreement to officially enter the fast growing IP surveillance market

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 10, 2007) - Meridex Software Corporation (TSX VENTURE:MSC) announced today that it has executed a Share Exchange Agreement (the "Agreement") to acquire all of the outstanding shares of Savicon, Inc. ("Savicon"), a privately-owned provider of comprehensive IP video surveillance solutions.

"I am very excited to be taking Meridex into this new market," said Matt Dion, President and CEO. "The security market is facing significant disruption as it moves from closed proprietary systems to a world of open standards. As the market shifts towards IP surveillance, there will be a demand for solution providers who can combine the domain expertise of both IT and physical security for the customer. I believe the completion of the Savicon acquisition gives us the necessary intellectual property and experience needed to successfully deliver powerful security software solutions to meet the needs of this growing market."

According to Frost & Sullivan, North American video surveillance software markets found earned revenues of $139.76 million in 2006, with estimates to reach $826.65 million in 2013.

Under the terms of the Agreement, Meridex will issue 3,881,831 common shares to acquire the shares of Savicon. Closing of the transaction is subject to customary closing conditions, including receipt of requisite regulatory approvals. The closing is expected to occur later this month.

About Savicon, Inc.

Savicon, Inc. is a private Boise, Idaho-based provider of comprehensive IP video surveillance solutions. Specializing in highly-integrated building security, camera monitoring, HVAC and lighting control that operate based on industry networking standards, it is developing advanced video surveillance and business optimization software solutions to enable real-time monitoring systems through wireless and IP networks. The Savicon platform comprises four highly-integrated security software solutions: the SaviCam™, the SaviView™, the Entegrator™, and the Savicon TouchPad™. Savicon software is easily integrated and fully compatible with other applications.

About Meridex Software Corporation

Meridex Software Corporation provides mobile facilities software solutions and information technology services. Product offerings include the MicroView™ suite, a fully integrated Archibus/FM™ solution that provides the user with the power and flexibility needed to effectively manage its facilities operations. Clients use Meridex product offerings to manage facilities activities including space management, asset lifecycle management, maintenance management, parts inventory management, condition assessments, inspections and surveys. By removing manual data entry, facilities managers can save time, increase productivity, reduce costs and improve data accuracy.

Meridex also provides comprehensive small- and medium-sized business (SMB) solutions to manage, monitor and optimize information technology. Managed IT services include network design and configuration, hardware and software upgrades, scheduled services, IT security (internet, data, and email protection) and data storage solutions.

(C) 2007 Meridex Software Corporation. Meridex and the Meridex logo are trademarks or registered trademarks of Meridex Software Corporation. All other trademarks are the property of their respective owners.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information