|By Marketwired .||
|November 29, 2012 03:00 AM EST||
NEW YORK, NY -- (Marketwire) -- 11/29/12 -- IDO Security Inc. (OTCBB: IDOI), developer of the MagShoe shoe scanning device (SSD) and Berkeley Varitronics Systems, Inc. (BVS), a leading provider of advanced wireless security solutions and products to the domestic and international wireless telecommunications markets, today announced a domestic and international mutual reseller's agreement. The agreement calls for each company to market and resell BVS' popular PocketHound and Wolfhound-PRO handheld cell phone detector models as well as IDO Security's MagShoe scanner.
Scott Schober, BVS president and CEO, commented, "We are excited to add the MagShoe to our portfolio of unique electronic devices used by prisons, schools and other secured facilities to keep out metallic threats. The MagShoe's capabilities to detect metal in shoes and the lower legs without requiring removal of shoes will complement our handheld cell phone detector products perfectly. BVS will offer the MagShoe throughout the U.S. to all of our customers."
Michael Goldberg, IDO president and CEO, stated, "We recognize that enlisting experienced companies like BVS, which have well-established sales channels in the US, is key to ramping up our North American sales. We are very enthusiastic about teaming up with BVS, which sells cell phone detectors to U.S. prisons to stop illegal cell phone usage, as this creates excellent synergy with the MagShoe, which is part of the solution to the same problem. We also look forward to selling their cell phone detection equipment outside the U.S. through IDO's international distribution channels."
About IDO Security, Inc.
Headquartered in New York with a subsidiary in Israel, IDO Security designs, develops and markets the patented MagShoe shoe scanning device (SSD). MagShoe fills a critical void in today's detectors by extending screening to the lower body and feet. MagShoe's "shoes-on" design maximizes security, thoroughness and accuracy while eliminating the need to remove shoes for increased convenience and safety. The MagShoe is neither invasive nor harmful to the body as some of the other screening devices currently used in the marketplace. Ideal for security and loss prevention at virtually any facility, MagShoe is currently in use worldwide at international airports, cruise lines, government agencies, correctional facilities, mints and more.
For more information on IDO Security, please visit: http://www.idosecurityinc.com
About Berkeley Varitronics Systems (BVS)
Berkeley designs and manufactures several popular products including the Wolfhound-PRO, PocketHound & WatchHound cell phone detectors completely in the USA. Since 2010, BVS has sold to hundreds of local, state and federal correctional facilities across the U.S. and abroad.
For more information on BVS, please visit: http://www.bvsystems.com/
This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based upon our current expectations about future events. These forward looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed as a result of a number of factors, including but not limited to, success of the teaming agreement with BVS in particular and our marketing strategy in general, anticipated trends and challenges in our business and the markets in which we operate, the ultimate market acceptance of our products, the sufficiency of existing capital resources, our plans for future products and enhancements of existing products, the ability to secure additional sources of financing, general economic conditions, the availability of competing products and changes in technology, legislative or regulatory changes that affect us and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1A of IDO's Annual Report on Form 10-K for the year ended December 31, 2011, and in our other filings with the Securities and Exchange Commission at www.sec.gov. We undertake no obligation to revise or update any forward-looking statement for any reason.
IDO Security CONTACT:
IDO Security Media Relations
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