SpecTIR Announces Acquisition Investment in Specim

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SpecTIR Investments, in conjunction with its partner in airborne, industrial and sensor sales, SpecTIR LLC, announced that it has acquired 18.5% ownership of Specim, Spectral Imaging Oy Ltd. of Oulu, Finland. This creates a leading force in global hyperspectral data collection and analysis, as well as hardware sales and systems services.

SpecTIR Investments, in conjunction with its partner in airborne, industrial and sensor sales, SpecTIR LLC, announced that it has acquired 18.5% ownership of Specim, Spectral Imaging Oy Ltd. of Oulu, Finland. This creates a leading force in global hyperspectral data collection and analysis, as well as hardware sales and systems services.

Timo Hyvärinen, Managing Director of Specim, stated that "This is a mutually beneficial partnership combining Specim's deep knowledge of instrumentation, and SpecTIR's worldwide experience in hyperspectral data collection, system operations, and analysis of diverse data sets." The acquisition investment follows Specim's strategy to strengthen their presence in the United States and world-wide markets. A stronger Specim/SpecTIR alliance serves both companies' clientele by providing global reach for advanced airborne and industrial hyperspectral applications.

SpecTIR President, Mark Landers, stated "We have worked closely with Specim for several years and continue to develop and strengthen the synergies between our international instrument sales and data collection operations. We believe that the investment in Specim will position SpecTIR to achieve increased recognition as a global provider of hyperspectral services and allow for rapid growth in 2009 and beyond."

About SpecTIR LLC:
SpecTIR LLC is a Service Disabled Veteran Owned, Small Business Concern (SDVO SBC) with offices in Virginia, Maryland, California, and Nevada.

SpecTIR has its foundation in the specialized design and construction of advanced hyperspectral and polarimetric imaging systems. Over the past decade, SpecTIR has advanced to the collection of hyperspectral data, the generation of imagery products from multiple data sources, and industrial solutions for manufacturing processes.

SpecTIR offers a full array of remote sensing services with expertise that ranges from system design, fabrication, calibration, as well as data collection and processing/exploitation of imagery and geodatabases.

For more information visit http://www.spectir.com.

About Specim Ltd:
Specim is a world leading company for hyperspectral imaging instrumentation covering the electromagnetic spectrum all the way from UV through VNIR and SWIR up to LWIR region. Specim provides ImSpector imaging spectrographs, Spectral Cameras and hyperspectral imaging solutions to a rapidly expanding number of industrial OEM customers and research organizations around the world. Specim's AISA family of airborne hyperspectral sensors provides market leading solutions for remote sensing, from small unmanned aerial vehicle (UAV) systems to full featured commercial, research and military instruments.

Specim's hyperspectral products are known for the highest performance and accuracy at the lowest cost in the market. They are increasingly used in a wide range of applications such as noncontact precision color measurement, process analytical technology (PAT), biological and geological sciences, oil and gas exploration, chemical imaging, as well as airborne and terrestrial military and security applications.

For more information visit http://www.specim.fi.

CONTACT:
William Bernard
Vice President, Business Development
410-820-5591

Timo Hyvärinen
Managing director
+358 10 4244 405

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William Bernard

Timo Hyvärinen
Specim Ltd
+358 10 4244 405
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