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Tech Companies Make Strategic Moves in Reseller Agreements and Projects

Strategic Insights

— 1 min read

HyperSecur Corp., a contactless smart-card technology licensing company based in Itasca, has signed a nonexclusive reseller agreement with Cherry Electric Products, a division of The Cherry Corp. This agreement will allow HyperSecur to re-sell Cherry's smart-card and biometrics products worldwide. The products are used in Cherry's keyboard product line, which is experiencing rapid growth. This move is expected to expand revenue potential for HyperSecur due to its use in hardware applications.

Key Takeaways:

  • HyperSecur Corp. has signed a nonexclusive reseller agreement with Cherry Electric Products, allowing the company to re-sell Cherry's smart-card and biometrics products worldwide.
  • The products are used in Cherry's rapidly growing keyboard product line, which is expected to expand revenue potential for HyperSecur.
  • Arkidata Corp. has begun work on a comprehensive consulting project for Verizon, using its information quality solutions in corporate benefit packages.
  • Racing Champions has signed an amendment to its current credit agreement, allowing the company to borrow up to $20 million on its revolving loan.
  • The amended term loan of $109.25 million in principal requires lower quarterly principal payments of between $3.125 million to $4 million per quarter.
  • HyperSecur is a contactless smart-card technology licensing company based in Itasca.
  • Arkidata is a company based in Downers Grove that sells high-tech information quality services.
  • Racing Champions is a company based in Glen Ellyn that markets vehicle-related collectibles and toys.

Statistics:

  • Up to $20 million: The amount Racing Champions can borrow on its revolving loan, based on accounts receivable and inventory levels.
  • $109.25 million: The principal amount of the amended term loan.
  • $3.125 million to $4 million: The range of lower quarterly principal payments required under the amended terms.
  • Worldwide: The scope of HyperSecur's re-sale agreements with Cherry Electric Products.

Sources:

  • "HyperSecur Corp. said Wednesday it has signed a nonexclusive reseller agreement with Cherry Electric Products, a Pleasant Prairie, Wis.-based division of The Cherry Corp."
  • "Arkidata handles Verizon project DOWNERS GROVE - Arkidata Corp. said Wednesday it has begun work on a comprehensive consulting project for Verizon, the company formed by the Bell Atlantic/GTE merger."
  • "Glen Ellyn-based Racing Champions said it signed an amendment to its current credit agreement in which it can borrow up to $20 million on its revolving loan, based on accounts receivable and inventory levels."

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