June 10, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Kensington Leasing, Ltd. (OTCBB: KNSL) said that it has completed its acquisition of substantially all of the assets of Allianex, LLC. Allianex is a development stage company engaged in the business of producing, marketing and distributing a retail line of prepaid cards for the purchase of technology support and security services for electronic devices. The business of Allianex is based on a nexus of contracts by which it retains a supply of technology support and security services and then distributes such services by means of prepaid cards through retail store aggregators.

The firm’s retail aggregator partners are retail aggregators operating in the prepaid/gift card industry, and have access to retail locations such as grocery stores, pharmacies, convenience stores, travel centers and others.

Allianex’s prepaid cards are offered in a variety of amounts and forms, including offerings for registry cleaner software, identity protection software, a suite of software applications, one time repair support or unlimited technical support services for a specified time period.

California-based Kensington Leasing acquired the assets of Allianex in exchange for $75,000 in cash, 575,000 shares of Kensington Leasing common stock and the assumption of Allianex’s trade payables.

In addition, Kensington Leasing has agreed to pay Allianex, in a combination of cash and Kensington Leasing common stock, 25% of the EBITDA of the ongoing business for three years after the closing of the transaction.

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