News

STEN Corp. to finance PayCenters rollout

November 27, 2005

MINNEAPOLIS - STEN Corp., a Minneapolis-based diversified business, announced in a news release that through its wholly-owned subsidiary, Sten Acquisition Corp., it has entered into an agreement with Las Vegas-based Site Equities International Inc. and its wholly-owned subsidiary, PayCenters LLC to provide financing through a loan of up to $2 million to support the deployment of self-service financial services kiosks. Pursuant to its agreement with Site Equities and PayCenters, STEN also has the right to effect a merger with Site Equities. PayCenters is engaged in placing self-service kiosks in retail locations that are used to facilitate bill payments and other financial transactions for a fee.

STEN chief executive Kenneth Brimmer said that the company's plans include placing 10,000 financial services kiosks over the next six years.