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Ricoh Americas Corporation Selects Rosetta Technologies For MICR Technology

Thursday, April 26, 2007

Press release from the issuing company

Tampa, FL – April 23, 2007 -- Rosetta Technologies Corporation announced today that it has entered into an agreement with Ricoh Americas Corporation, headquartered in West Caldwell, NJ, to be a value added reseller providing secure Magnetic Ink Character Recognition (MICR) technology for the Ricoh line of laser printers. MICR, in use in the United States since the 1950s, involves the special numbers and symbols found at the very bottom of checks. These numbers and symbols are used to route and clear paper check payments through the banking system and are read by high speed reader/sorters that capture the MICR line information. Printing MICR characters requires stringent adherence to established standards for character formation, placement and performance characteristics. In addition, security features must be built into these printers to prevent fraud and tampering, as well as providing the data security required in today’s business and banking world. Under the agreement, Ricoh Americas Corporation will provide standard print engines and accessories to Rosetta Technologies that will then convert them to MICR-capable units. As a Value Added Reseller, Rosetta will be responsible for all aspects of the MICR market, and will work in conjunction with Ricoh, and other resellers to promote, sell and support the MICR-enabled products. Rosetta Technologies will also provide MICR toner cartridges and service for these products. Rob Hullar, President and CEO of Rosetta Technologies said, “We are extremely pleased to extend our already excellent relationship with Ricoh to include their workgroup line of laser printers in our family of MICR products. Ricoh’s unique and robust printer technology has provided a strong technical base to work from, helping us to create very secure MICR printers that drive performance and cost of printing to new levels.” He added, “Rosetta Technologies already has a very successful line of production MICR printers based on high speed Ricoh printers, and the addition of these new printers rounds out our offering and creates a very comprehensive and competitive product line. Coupled with our software solutions and service, Rosetta and Ricoh will offer a wide breadth of very effective solutions for both traditional business check writing applications and substitute check printing for the emerging Check 21 market.” “Ricoh is pleased to be working with Rosetta Technologies to enhance the function of their printers and to provide their customers with the best quality product available,” said Ron Potesky, vice president, Corporate Product Marketing.

 

 

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