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Digital Angel Corporation Appoints Allen & Caron for Investor Relations, Media Relations & Corporate Communications
Tuesday 20. January 2009 - Digital Angel (NASDAQ:DIGA), a leading developer of radio frequency identification (RFID) and global positioning satellite (GPS) technology for use in animal identification and emergency identification, announced today that it has appointed Allen & Caron Inc as its investor relations, media relations and corporate communications agency.
Allen & Caron will assist Digital Angel in developing an outreach program to increase visibility in the investment community, and news dissemination and media relations programs to help broaden awareness of the Company’s proprietary technologies and products.
Joseph J. Grillo, Digital Angel CEO commented, “Last year was a transitional year for Digital Angel – we divested our non-core assets and are now focused on our two primary businesses – Emergency ID and Animal ID. Our brands now include SARBE and McMurdo in our Emergency ID business and Destron Fearing(TM) and HomeAgain(R) in our Animal ID business.”
Allen & Caron CEO Joe Allen said, “We are excited about working with Joe Grillo and we believe he is the right man for the job. Joe has a long history in the RFID business; he successfully grew HID Corporation from a start-up into the world’s leading card and reader company. He was a member of the HID buy-out team and grew HID from $9 million to $100 million in annual revenues. The buyout resulted in a return to investors of greater than 80 percent.
“In addition, the segments in which Digital Angel operates in – tracking livestock and pets, and emergency tracking services for maritime and aviation – are in many ways ‘recession proof.’ The Company is now in a position to grow the business at a faster pace since successfully restructuring last year. We believe that the investment community will find the company a very attractive opportunity.
“Our plans are to introduce them to institutional investors across the country, particularly institutions located in geographical areas that will be hearing the story for the first time. We will also be targeting certain European institutions as well. We believe that we can help the company expand its awareness to a broader group of educated investors both in the US and abroad. We look forward to working with the Digital Angel team.”