SOURCE: Relm Holdings Inc.

November 09, 2009 10:43 ET

RELM Holdings Inc. Executes a Letter of Intent for the Acquisition of a Document Management, Computer Forensics and Litigation Support Company

WILMINGTON, DE--(Marketwire - November 9, 2009) - RELM Holdings Inc. (PINKSHEETS: RELM) announced today that it executed a Letter of Intent (LOI) to acquire 100% of the equity interests in a well established Electronic Document Management company with facilities in the South East and Midwest.

Management noted that the target company will remain undisclosed pending the execution of definitive agreements per customary non-disclosure terms agreed on by the parties. The Company, founded in 1990, provides high-quality document management services to its clients in the pharmaceutical, legal, financial services, healthcare and commercial markets through electronic discovery, computer forensics, litigation support, commercial imaging, online collaboration, forms processing, and other services. Revenues for 2009 are expected to exceed $3,300,000.00. With this acquisition, Relm's annual technology revenues will exceed $5,000,000.00. Management will provide consolidated pro-forma statements once due diligence has been completed.

Management plans to operate the Company within the newly formed Relm Technology Group (RTG) and the Company's key executives will become members of the RTG Executive Management Team.

According to Marc Greenberg, EVP, "This acquisition allows us to offer an exciting new suite of services to our clients and is the first step to executing our vision of a diverse offering of technology solutions. We discovered many opportunities that will be available to us as we consolidate the companies including our ability to leverage Access Versalign's (AVI) network and infrastructure team to support the Company's datacenter operations."

Randall Burton, President, added, "This is an award winning company in their field and their management team is experienced and well respected. We look forward to the cross selling opportunities that this creates for us and eventually offering Electronic Document Management services to the Mid Atlantic legal, corporate and healthcare markets."

About RELM

RELM was incorporated to acquire operating businesses and is now a holding company with a primary focus on financial and information technology services along with real estate. The Company bases its business model on the acquisition of synergistic businesses with the capability to support and compliment its financial and technology products. RELM intends to lead a vertically integrated family of companies that will provide full solutions for its affiliates and clients, such as underwriting, servicing, raising capital, and commercialization, while securitizing and guaranteeing its products in the marketplace. Since 1994 the Company has conceived, designed, and developed innovative, new products that "absorb asset risk." For more information about RELM, please visit

About AVI

AVI was organized in 2008 and in 2009 acquired Versalign Inc., which was founded in 1985 and currently provides targeted Information Technology solutions for corporate, professional and governmental clients in the Mid-Atlantic region. AVI provides RELM with new top management plus it increases the employee base to over 25 employees. This acquisition gives RELM access to cash flows and expanded business opportunities in the information technology industry. For more information about Versalign, please visit


The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the company, which include the ability of the company to implement its newly expanded business model or acquire businesses and real estate, actual results may differ materially from the expectations expressed in the forward-looking statements.

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