in information security, information storage, networking, network management, systems integration and application delivery solutions. SoftNet provides the customer with a range of expert consulting, software solutions and recruiting services helping customers plan, deploy, secure and manage IT services and infrastructures enabling them to meet their short and long-term business objectives. In September 2006, the Company entered into a merger agreement with PeriNet Technologies LLC (PeriNet), a Pennsylvania based information technology firm, Inc. Under the merger agreement, the Company acquired the assets of PeriNet.