Exhibit 99.3
DPAC Soliciting Shareholder Vote for
Approval of Merger with QuaTech, Inc.
GARDEN GROVE, Calif.--(BUSINESS WIRE)--Feb. 13, 2006--DPAC
Technologies Corp. (OTCBB:DPAC), and QuaTech, Inc. (www.quatech.com)
today announced that they are utilizing the Altman Group to solicit
shareholder votes in connection with their planned merger. A
shareholders meeting has been scheduled for February 23, 2006 at which
the votes for the proposed merger, and other proposals will be
recorded. DPAC must obtain votes in favor of the merger from more than
50% of the outstanding shares of DPAC in order to obtain approval to
complete the merger. Therefore, if a shareholder does not vote their
shares, it has the same effect as voting against the proposed merger.
Shareholders are urged to vote their shares as soon as possible.
Proxy materials, including a Form S-4 Registration statement, have
been filed with and declared effective by the SEC. The materials were
mailed to shareholders on or about January 24, 2006 to shareholders of
record on January 4, 2006. The Altman Group will seek to assist
shareholders in recording their votes on the proposals. Proxies may be
voted on the internet, by telephone, or by mail.
Shareholders with questions regarding proxy materials or voting
procedures are urged to call the Altman Group at 800-314-9816
extension 112, or to call Kim Early at DPAC at phone number
714-898-0007, extension 142.
About DPAC Technologies
Located in Garden Grove, California, DPAC Technologies provides
embedded wireless networking and connectivity products for
machine-to-machine communication applications. DPAC's wireless
products are used by major OEMs in the transportation, instrumentation
and industrial control, homeland security, medical diagnostics and
logistics markets to provide remote data collection and control. The
Company's website address is www.dpactech.com. Information concerning
DPAC is filed by DPAC with the SEC and is available on the SEC
website, www.sec.gov.
About QuaTech
QuaTech, a privately-held company, is an industry performance
leader in device networking and connectivity solutions. Through
design, manufacturing and support, QuaTech maintains the highest
levels of reliability and performance. Satisfied customers include
OEMs, VARs and System Integrators, as well as end-users in many
industries, including banking, retail/POS, access control, building
automation and security, and energy management. QuaTech is a leading
supplier of data connectivity products to financial institutions,
serving five of the top 10 U.S. banks. Founded in 1983 and
headquartered in Hudson, Ohio, QuaTech sells and supports its
solutions both directly and through a global network of resellers and
distributors. www.quatech.com
Forward-Looking Statements
This press release includes forward-looking statements. You can
identify these statements by their forward-looking words such as
"may," "will," "expect," "anticipate," "believe," "guidance,"
"estimate," "intend," "predict," and "continue" or similar words or
any connection with any discussion of future events or circumstances
or of management's current estimates or beliefs. Forward-looking
statements are subject to risks and uncertainties, and therefore
results may differ materially from those set forth in those
statements. A transaction as contemplated would require approvals of
the shareholders of both parties and numerous other conditions. Full
details of such a transaction has been filed with the SEC by DPAC on
Form S-4 which has been mailed to DPAC shareholders. There is no
assurance possible, and none is intended, that the transaction will be
completed at all or on the terms described. The transaction is and
shall continue to be subject to certain conditions and contingencies
until the transaction is completed. DPAC Technologies Corp. will
provide further detailed information to its shareholder as and when
required to solicit their consent. The transaction's costs and
diversion of management attention could negatively impact results. The
parties need additional financing to complete the transactions as
envisioned. Such financing may not be available on favorable terms,
and if available may result in issuance of warrants and additional
dilution to holders of DPAC common stock. Also, there can be no
assurance that such transaction will be completed or, if completed,
that it will be successful. The transaction would involve a change of
control, in that voting control of DPAC would be transferred to a
former principal shareholder of QuaTech. Other factors that affect
DPAC's business include, but are not limited to, the degree of market
acceptance of our existing and planned wireless connectivity products,
future business opportunities with these products, protection of
licensed technology or proprietary rights, risks of litigation, our
need for additional financing in order to realize our opportunities,
other challenges related to completing our proposed merger with
QuaTech, Inc., further challenges in subsequently combining our
operations with QuaTech, Inc.'s own, and general market and economic
conditions. More information about the risks and challenges faced by
DPAC Technologies Corp. is contained in the Securities and Exchange
Commission filings made by the Company on Form S-4, 10-K, 10-Q and
8-K. DPAC Technologies Corp. specifically disclaims any obligation to
update or revise any forward-looking statements whether as a result of
new information, future developments or otherwise.
Additional Information:
DPAC and QUATECH strongly urge their respective shareholders to
read the relevant documents related to this transaction as and when
filed by DPAC with the SEC, including especially the proxy
statement/prospectus related to this transaction and filed on Form
S-4, because they contain important information all the shareholders
should consider. All DPAC's SEC filings are made available free of
charge at the SEC website (www.sec.gov). Such documents, when filed,
also are made available free of charge by DPAC. In addition to the
Form S-4 filed on November 7, 2005, DPAC has previously filed Forms
8-K or 8-K/A on April 27, 2005, August 9, 2005, and October 20, 2005
containing the current agreements between DPAC and QUATECH. This news
release is neither a solicitation of any proxies nor an offer of any
securities of any kind whatsoever. No securities mentioned herein have
been registered or authorized or approved by any federal or state
securities regulator or commission.
CONTACT: DPAC Technologies Corp.
Stephen Vukadinovich or Kim Early, 714-898-0007
Steve.Vukadinovich@dpactech.com
Kim.Early@dpactech.com