Sirit Completes RSI ID Technologies Acquisition

TORONTO—Sirit Inc., a provider of radio frequency identification (“RFID”) technology, has completed its acquisition of RSI ID Technologies, Inc. (“RSI”). RSI is a vertically integrated manufacturer of antennas, inlays and tags for specialized, passive RFID applications. In accordance with the terms of the agreement announced on March 4, 2008, the deal has been structured as an all stock transaction with an initial payment of 10 million Sirit Common Shares plus additional shares to be issued over a 21 month period based on achieving certain financial targets. The transaction has received all requisite regulatory approvals including that of the Toronto Stock Exchange. Wolf Bielas will remain CEO of RSI located in Chula Vista, Calif.