DataLogic International Signs Letter of Intent to Acquire IS Solutions, LLC
29 September 2004 - 7:15AM
PR Newswire (US)
DataLogic International Signs Letter of Intent to Acquire IS
Solutions, LLC - Acquisition Expected to Be Accretive to Earnings -
IRVINE, Calif., Sept. 28 /PRNewswire-FirstCall/ -- DataLogic
International, Inc., (OTC Bulletin Board: DLGI; Berlin, Frankfurt
Stock Exchange: 779612) a technology and professional services
company providing a wide range of consulting services and
telecommunications products such as VoIP equipment and GPS vehicle
tracking devices, today announced its intention to acquire the
assets of IS Solutions, LLC, a New Mexico-based privately held
provider of computing solutions for business and government,
subject to the satisfactory completion of due diligence. IS
Solutions, LLC is a one-stop-shop computer services provider whose
offerings include hardware, software, networking, wireless
communications, system integration, technology training,
maintenance, and service. Presently, IS Solutions' customers
include the New Mexico state government and a number of its
agencies. The company is one of only seven computer sales companies
approved to work with these government agencies. IS Solutions
recently started to focus more intently on the use of its
computerized solutions in the public safety/homeland security and
communications arenas. "We are pleased to add IS Solutions to our
existing complement of proven computer solutions," said Derek
Nguyen, DataLogic's Chief Executive Officer. "IS Solutions' product
lines have applications across most of our customer base and will
further our strategy of offering cost effective and flexible
technology solutions. IS Solutions' experience in serving New
Mexico state agencies in public safety and education will bring a
new dimension to DataLogic's portfolio of products and we are very
excited about the prospect of being able to bring these offerings
to a larger market. We expect that the acquisition of IS Solutions
will add approximately $5 million in revenue annually to
DataLogic's income statement, and that it will be accretive to
earnings." Tony Grundler, Managing Member of IS Solutions, LLC
commented, "I feel that this acquisition will enhance the
capabilities of both companies and will enable IS Solutions to
expand our current breadth of offerings in the public safety arena
to a much wider customer base. We are currently just in the State
of New Mexico and this merger will open many doors outside of our
state. We are all excited about the expanded capabilities we will
have with DataLogic." It is intended that the purchase of IS
Solutions' assets will be effected with an exchange of DataLogic's
cash and stock. About DataLogic International, Inc. DataLogic
International, Inc. is a technology and professional services
company providing a wide range of consulting services and
telecommunications products such as VoIP phones, videophones,
communications servers and GPS vehicle tracking devices. The
company also provides Information Technology outsourcing and
consulting services. DataLogic's customers include U.S. and
international governmental agencies as well as a variety of
international commercial organizations. For more information,
please visit DataLogic International's web site
http://www.dlgi.com/. This news release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding, among other things, our plans, strategies and
prospects, both business and financial. Although we believe that
our plans, intentions and expectations reflected in or suggested by
these forward-looking statements are reasonable, we cannot assure
you that we will achieve or realize these plans, intentions or
expectations. Forward-looking statements are inherently subject to
risks, uncertainties and assumptions. Many of the forward-looking
statements contained in this news release may be identified by the
use of forward-looking words such as: believe, expect, anticipate,
should, planned, will, may, intend, estimated, and potential, among
others. Important factors that could cause actual results to differ
materially from the forward-looking statements we make in this news
release include market conditions and those set forth in reports or
documents that we file from time to time with the United States
Securities and Exchange Commission. All forward-looking statements
attributable to DataLogic International or a person acting on its
behalf are expressly qualified in their entirety by this cautionary
language. For further information, please contact: Donna Dolan,
Investor Relations of DataLogic International, Inc.,
+1-949-260-0120, ext. 204, . DATASOURCE: DataLogic International,
Inc. CONTACT: Donna Dolan, Investor Relations of DataLogic
International, Inc., +1-949-260-0120, ext. 204, Web site:
http://www.dlgi.com/
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