ImageWare Systems Completes Acquisition of G&A Imaging

Apr 05, 2001, 01:00 ET from ImageWare Systems, Inc.

    SAN DIEGO, April 5 /PRNewswire/ -- ImageWare Systems, Inc. (Amex:   IW)
 today announced that it has completed the acquisition of G&A Imaging, a
 supplier of software and software systems for digital identification
 documents.  This announcement follows a March 9, 2001 news release announcing
 that the companies executed a definitive agreement under which ImageWare
 agreed to acquire G&A.
     ImageWare paid $6.5 million in cash and common stock at closing, subject
 to certain post closing adjustments.  G&A had revenues of $7.0 million for its
 fiscal year ended September 30, 2000.  The transaction is classified as a
 purchase of assets.
     ImageWare also announced that it has formed a new ImageWare ID Group,
 which will be comprised of its ITC and Goddard subsidiaries as well as G&A
 Imaging.  ImageWare named Ian Fraser, former president of G&A Imaging to head
 that division.  Fraser will report directly to Jim Miller, chairman and chief
 executive officer of ImageWare.
 
     About ImageWare Systems:
     ImageWare Systems, Inc. develops, sells and supports a suite of modular
 software products known as C.R.I.M.E.S.(R) used by law enforcement and public
 safety agencies to manage criminal digital images and data.  ImageWare's
 software systems and associated hardware allow customers to quickly create,
 archive, search, retrieve and share digital photographs and criminal history
 records.  Through its ITC and Goddard subsidiaries, ImageWare also develops,
 sells and supports software used to create digital identification cards and
 documents.
 
 

SOURCE ImageWare Systems, Inc.
    SAN DIEGO, April 5 /PRNewswire/ -- ImageWare Systems, Inc. (Amex:   IW)
 today announced that it has completed the acquisition of G&A Imaging, a
 supplier of software and software systems for digital identification
 documents.  This announcement follows a March 9, 2001 news release announcing
 that the companies executed a definitive agreement under which ImageWare
 agreed to acquire G&A.
     ImageWare paid $6.5 million in cash and common stock at closing, subject
 to certain post closing adjustments.  G&A had revenues of $7.0 million for its
 fiscal year ended September 30, 2000.  The transaction is classified as a
 purchase of assets.
     ImageWare also announced that it has formed a new ImageWare ID Group,
 which will be comprised of its ITC and Goddard subsidiaries as well as G&A
 Imaging.  ImageWare named Ian Fraser, former president of G&A Imaging to head
 that division.  Fraser will report directly to Jim Miller, chairman and chief
 executive officer of ImageWare.
 
     About ImageWare Systems:
     ImageWare Systems, Inc. develops, sells and supports a suite of modular
 software products known as C.R.I.M.E.S.(R) used by law enforcement and public
 safety agencies to manage criminal digital images and data.  ImageWare's
 software systems and associated hardware allow customers to quickly create,
 archive, search, retrieve and share digital photographs and criminal history
 records.  Through its ITC and Goddard subsidiaries, ImageWare also develops,
 sells and supports software used to create digital identification cards and
 documents.
 
 SOURCE  ImageWare Systems, Inc.