Published:
FLO Corporation Completes Acquisition of rtGO(SM) Registered Traveler Solution from Unisys
CHANTILLY, Va., May 13 /PRNewswire-FirstCall/ -- FLO Corporation
(OTC Bulletin Board: FLRP), a leading Registered Traveler (RT) services
provider, today announced the completion of the acquisition of Unisys
Corporation's (NYSE: UIS) RT solution, rtGO(SM), a world-class, scalable
technology that is certified by the U.S. Transportation Security
Administration (TSA). The transaction helps position FLO as a major
participant in the RT industry and strengthens its standing as the only public
company focused exclusively on Registered Traveler.
FLO Chief Executive Officer Glenn Argenbright stated, "Today FLO achieved
another important strategic goal by acquiring from Unisys the rtGO(SM)
technology platform, a leading solution in the personal credentialing
industry. Our agreement with Unisys also includes an agreement to receive
services from Unisys through May of 2012. We look forward to continuing our
very productive partnership with Unisys and in continuing to bring to market
distinctive innovation in products and services for our members."
FLO has responded to traveler needs with a next-generation business model
purpose-built to provide members with benefits, choice and value beyond the
airport security lane, an approach that has been coined RT 2.0. Complete
membership information, enrollment options and a variety of useful features
can be found at Flu's newly designed Web portal at http://www.flocard.com .
About FLO
FLO Corporation provides a comprehensive solution for the Registered
Traveler program that is built on world-class, scalable technology and
administered by the U.S. Transportation Security Administration. The
Registered Traveler program is designed to identify air passengers who pose a
minimal security risk and then to provide those passengers with access to
faster and simpler processing at airport security checkpoints. FLO Corporation
has formed the "FLO Alliance" - strategic relationships with several companies
with extensive expertise in credentialing, security, access control, customer
service, travel services, political lobbying and corporate and consumer
marketing - designed to develop, market, sell and deploy an end-to-end
solution and to provide Registered Traveler benefits to qualified individuals
for expedited security screening in designated lanes at participating airports
in addition to receiving promotional offers and discounts offered by retail
partners. The FLO Alliance consists of strategic relationships FLO has with
Johnson Controls Federal Systems, Inc., JPMorgan Chase Bank, N.A., Smiths
Detection Inc., Unisys Corporation and International RAM . For more
information about the FLO program and Alliance visit http://www.flocard.com.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release contains information about our management's view of our
future expectations, plans and prospects that constitute forward-looking
statements for purposes of the safe harbor provisions under The Private
Securities Litigation Reform Act of 1995. Actual results may differ materially
from historical results or those indicated by these forward-looking statements
as a result of a variety of factors. For example, our business will depend on
our ability to establish and maintain strategic relationships with travel
services, technology, and other companies. If we are unable to establish and
maintain such relationships or if current relationships were to weaken, our
actual results may differ materially from those indicated by the statements
made in this release and our business could suffer. In addition, we expect to
incur substantial transaction and restructuring charges as we integrate the
rtGO solution with our solution, and there may be additional unanticipated
costs. The integration of any acquisition involves numerous risks, including,
among others, difficulties in assimilating operations and products, diversion
of management's time and attention from other business concerns, potential
exposure to unknown or contingent liabilities and possible loss of significant
customers or impairment of relationships. We may not achieve the expected
benefits of the transaction in the near term, or at all. Our failure to
successfully, timely integrate the Unisys rtGO solution with our business
could harm our business and future prospects. Other factors that could cause
actual results to differ materially from historical results or those indicated
by the statements in this release include, but are not limited to, risks and
uncertainties associated with our financial condition and our efforts to meet
the TSA's requirements to offer Registered Traveler services to sponsoring
entities as well as those included in our annual report on Form 10-K filed
with the Securities and Exchange Commission on April 15, 2008, and other
documents we periodically file with the Securities and Exchange Commission.
NOTE REGARDING TRADEMARKS
"FLO" is a trademark of FLO Corporation. The names of actual companies
mentioned herein may be the trademarks of their respective owners.
Media Contact:
Kevin Mitchell - 610.341.1850
SOURCE FLO Corporation
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