SOURCE: Pamet Systems, Inc.

February 05, 2007 09:00 ET

Pamet Systems, Inc. and Archonix Systems, LLC Announce Transaction

HUDSON, MA -- (MARKET WIRE) -- February 5, 2007 -- Pamet Systems, Inc. ("Pamet") (PINKSHEETS: PMTT), a provider of software, mobile solutions and other technologies for public safety organizations, today announced that it has reached an Agreement with Archonix Systems, LLC ("Archonix") providing for the purchase of a majority of its public safety assets. Closing of a transaction is contingent upon, among other things, shareholder and other approvals and other closing conditions common for such transactions.

Kirke Curtis, CEO of Pamet Systems, commented, "We are excited about this transaction and believe it is a positive event for Pamet customers, employees and other key stakeholders. The transaction will provide our customers with an even greater selection of public safety software products and with added support, development and financial strength. For our investors and creditors, it is an opportunity to benefit from the hard work put in by Pamet personnel over the past several years."

Anthony S. Graham, President of Archonix, similarly commented, "We have known Pamet as a company with strong products, superior personnel and loyal clients. We are pleased to have been able to reach agreement for the acquisition of these assets and look forward to working to provide even greater service to Pamet's customer base, opportunities for its personnel and a complementary, impressive suite of industry-leading software products to existing and new customers."

Terms of the Transaction were not disclosed.

About Archonix: Headquartered in Mt. Laurel, New Jersey, Archonix Systems ("Archonix") is a rapidly growing provider of software products for police, fire, jail and other public safety agencies. Archonix is privately held and has grown to serve over 100 public safety customers in 17 states. The Company's public safety offerings include computer-aided-dispatch, records management, and mobile communications software, as well as data sharing for police and fire departments and management software for correctional institutions. For more information, go to

About Pamet: Incorporated in 1987, Pamet Systems, Inc., is a provider of software, mobile solutions and other technologies for public safety organizations throughout the Eastern United States. The Company's innovative applications help automate the workflow of first responders and other public safety organization personnel. For more information, go to

Certain statements in this release may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities and Exchange Act of 1934 as amended. Certain, but not necessarily all, of such forward-looking statements can be identified by the use of such words or phrases as "believes," "expects," "may," "will," "should," "is very likely to" or "anticipates," or other variations. The final disposition of the transaction may be materially different from any future results expressed or implied by such forward-looking statements because of factors such as inability to gain shareholder or other stakeholder approval, insufficiency of capital to operate the Company, and/or changes in the marketplace including changes in demand for public safety software.

Contact Information

  • Contact:
    Kirke S. Curtis
    Pamet Systems, Inc.
    Phone: (978) 568-0045 x1111

    Anthony S. Graham
    Archonix Systems, LLC
    Phone: (856) 787-0020