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 UPEK Selects Singapore as Headquarters for International Operations Decision Reinforces Broad Vision for Global Biometrics Leader
“This decision marks an important milestone in our history,” noted Alan Kramer, UPEK President and CEO. “When the company was founded we had the vision to plan that UPEK would be international in scope and structure. Today realizes our vision to create a truly global organization, and also advances the vision of the Singapore government to embrace all multi-national companies, including earlier-stage companies such as ourselves who want to maintain operations in this exciting and dynamic part of the world.” “We are pleased that UPEK has chosen Singapore as its International Headquarters, with R&D activities and supply chain management” said Mr Manohar Khiatani, Assistant Managing Director, Singapore Economic Development Board. “We are confident that Singapore's strong semiconductor capabilities, world-class infrastructure and business-friendly environment will add value to UPEK's operations.” UPEK has committed to building a Center of Excellence in Singapore, which will focus on hardware R&D and IC design, manufacturing operations and worldwide sales and logistics. The company has also pledged to spend S$100 million over the next ten years to continue to build and strengthen its presence in Singapore. About UPEK UPEK, Inc., a global leader in biometric fingerprint security solutions, offers integrated end-to-end solutions including comprehensive design and integration services to the world’s leading consumer and industrial products companies. UPEK solutions enable the strongest fingerprint authentication security available, packaged for high user convenience and rapid integration into existing products and network architectures. The company has been pioneering biometric fingerprint technology since 1996 and shipping product in volume since 1999. UPEK is headquartered in Emeryville, California, with offices in Prague, Singapore, Taipei and Tokyo. For more information, please visit www.upek.com Forward-Looking Statements Cautionary Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, this news release contains forward-looking statements. These forward looking statements involve risks and uncertainties, including UPEK’s ability to develop and launch new products, services and features on time and at acceptable margin and profit levels, UPEK’s ability to develop and market products that are accepted by consumers and evolving standards for cryptography-based solutions used in government applications. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, operating results, business strategy and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, those described in “Risk Factors” in UPEK’s registration statement on Form S-1 filed with the Securities and Exchange Commission and amended on July 13, 2007. No forward-looking statement is a guarantee of future performance, and you should not place undue reliance on any forward-looking statement. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. We undertake no obligation to update or revise any forward-looking statement contained in this prospectus. UPEK and the UPEK logo are registered trademarks or trademarks of UPEK, Inc. in the United States and other countries. All other trademarks or registered trademarks are the property of their respective owners. Contact Information: Eugene Wong Farena Rahim |
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Singapore, December 5, 2007 – UPEK®, Inc, , a leading brand of fingerprint biometric security solutions, today announced that it is being recognized by the Singapore Economic Development Board for selecting Singapore as the location for its International Headquarters. The California-based firm, with international offices also in Prague, Taipei, Beijing and Tokyo, selected Singapore over other sites because of the quality of its labor pool, its proximity to suppliers, business partners and customers, its unique central location and world class transport infrastructure.