MEI Conlux Acquires VTI

5/2/2007 - West Chester, PA

MEI Conlux, the leading global manufacturer of unattended payments systems, today announced it has acquired the assets of VTI, a provider of currency validation products based in Las Vegas, Nevada. 

The acquisition adds the VTI Vector and Matrix products to the existing MEI Conlux product portfolio provided to the Retail, Transportation, Amusement, Vending and Gaming markets. These two products complement existing technologies and enable MEI Conlux to offer a broader range of solutions to both existing and new customers.

"The VTI advantage of cost-effective, rapid development is now in the hands of MEI Conlux, the company that produces the best recognition and authentication technologies in its class," said G. Peter Lee, founder and CEO of VTI who will continue as an advisory consultant to MEI.  

This acquisition is the first after MEI Conlux was purchased by Bain Capital and Advantage Partners in June of 2006.  Mike Hayes, president and CEO of MEI Conlux, said, "This acquisition is a logical progression in our relationship with VTI which began with a co-development project in 2005.  The combination of VTI's proven hardware with MEI's recognition technology will further our ability to provide high quality, value-added solutions to our growing customer base worldwide."