Scan-Optics to Acquire Agissar Corp.

MANCHESTER, Conn., Aug. 3 -- Scan-Optics Inc. has reached an agreement in principle to acquire 100 percent of the stock in Agissar Corp. for an undisclosed amount. James C. Mavel, president, CEO and chairman of Scan-Optics, said, The parties are working diligently to complete the acquisition documents and expect to complete the transaction in the next few weeks. The acquisition will support Scan-Optics' strategy to provide information capture and customer service solutions to select vertical industries. Mavel added, In business environments that are currently dominated by paper-based transactions, the requirement is for an efficient and cost effective way to prepare the paper transaction for the digital image storage which is required for information processing systems. Agissar has a 24 year history of successfully addressing this requirement with annual revenues greater than $5 million on a worldwide basis.