CHANTILLY, Va., May 13 /PRNewswire-FirstCall/ — FLO Corporation (BULLETIN BOARD: FLRP) , a leading Registered Traveler (RT) services provider, today announced the completion of the acquisition of Unisys Corporation’s 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 .
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 .
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
FLO Corporation