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Solutions Group, Inc.: Solutions Group, Inc. Acquires iDrive, SRL in Merger Action

^{Published on 2009-09-04 14:31:32 - Market Wire}
 

SANTA BARBARA, CA--(Marketwire - September 4, 2009) - Santa Barbara based Solutions Group, Inc. (PINKSHEETS: [ SOLU ]) announced today that it has completed the merger, filed effective August 28, 2009, with Romanian based iDrive, SRL, a provider of next generation professional event data recording systems for vehicle protection, in which Solutions Group had previously acquired a 30% equity position with the surviving company to be Solutions Group, Inc.

The iDrive solution addresses a critical need of reducing risky driving habits worldwide. The iDrive solution increases driver awareness, assesses behavior and increases the security of vehicles while recording real time events for the vehicle.

More details regarding the merger and the iDrive beta units to be announced.

More information on iDrive can be found at [ www.idrive.pro ].

About Solutions Group, Inc.: Solutions Group (SGI) is an international provider of Managed Engineering Services. The Company seamlessly integrates its regional design centers in North America with its lower cost off-shore engineering locations in Romania and Mexico to provide exceptional blended pricing solutions and reduced product design cycle times. Solutions Group creates greater value for its shareholders by leveraging its core engineering competencies into other opportunities including royalty partnerships, intellectual property creation and selective acquisitions. SGI's customers currently include major Fortune 500 companies, small and mid-range OEMs and early stage product companies.

This press release contains forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, particularly those statements regarding the effects of the proposed transaction and those preceded by, followed by or that otherwise include the words, "believes," "expects," "anticipates," "intends," "estimates," or similar expressions.

Forward-looking statements relating to expectations about future results or events are based upon information available to The Company as of today's date, and The Company does not assume any obligations to update any of these statements. The forward-looking statements are not guarantees of the future performance of The Company and actual results may vary materially from the results and expectations discussed.

For more information, visit [ www.solutionsgroupcorp.com ].