Voice Prints Merges With Investment Firm

Voice Prints Inc., a 2-year-old Costa Mesa voice-processing technology company, has merged with a Denver investment firm in a stock purchase and exchange agreement that gives VP 59.8% of the new company’s stock and all three positions on the board of directors.

Under the agreement, Camarilla Corp. issued 42.5 million shares of its common stock for VP’s 2.3 million shares and agreed to issue 93 million more shares to former VP shareholders if specified performance criteria are met.

As part of the deal, Camarilla is infusing $655,000 in new capital into the company, plus $1.5 million in warrants for more common stock, said John McGovern, president and chief executive of the new company. The money will be used to finance existing contracts and promote a new product, he said.

The new company will take VP’s name and will be based in Costa Mesa, said McGovern, who has been with Voice Prints since October, 1984.

Voice Prints was formed in July, 1984, to develop proprietary voice-processing technology and to market voice-actuated and voice-controlled products. It currently produces voice-actuated computer products that run on the IBM PC family of personal computers and on IBM PC-compatible computers.