Zylab gets sold
Authentication services provider AuthentiDate Holding Corp., Schenectady, N.Y., plans to acquire search engine software provider Zylab International Inc., Germantown, Md., for an undisclosed number of restricted shares of AuthentiDate common stock.
The acquisition depends on completion of a definitive agreement of terms between the two companies and shareholder approval. A spokesperson for Zylab estimated the transaction would close by late February or early March.
AuthentiDate plans to expand relationships with Zylab's customer base, which includes the FBI, Securities and Exchange Commission, Immigration and Naturalization Service and U.N. International War Tribunal.