Y3K Secure Entp Sftw (NASDAQ:YTHK)
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Y3K to Acquire Pacific Communication Systems
Y3K and Pacific Communication Systems announce intention to complete
acquisition of PCS by Y3K.
BELLEVUE, WA, May 17 /PRNewswire-FirstCall/ -- Y3K Secure Enterprise Software,
Inc., (OTC/BB: YTHK), an end-to-end unified communications and technologies
company serving the small to medium business and residential markets, and
Pacific Communication Systems, Inc., (PCS) a Silicon Valley ISP and WiFi
provider, have confirmed their interest in completing Y3K's acquisition of PCS.
Y3K had previously entered into a letter of intent to explore the possible
purchase of PCS by Y3K. In the last several weeks the two companies have been
working closely together to review business opportunities and to explore each
other's technologies. The mutual decision to work towards completing Y3K's
acquisition of PCS was based on the due diligence thus far completed and the
experience of working together over the last several weeks.
PCS is in the business of marketing and deploying ISP services, wireless
technologies including WiFi services, and related products and services to a
wide variety of client environments including commercial buildings, government
applications, diversified retail locations, small businesses and residential
complexes. PCS has developed certain advanced technologies, strategic
configurations and delivery methodologies for enhanced security and reliability
in the delivery of WiFi and ISP services.
"We are very excited about the opportunity to bring together the technical
expertise of PCS as well as their growing customer base, with those of Y3K,"
stated King Cole, president of Y3K.
"We see real synergy by being able to cross-sell our advanced telephony
products and services and our secure web-based communications software
applications to their current and potential customers. Likewise we are excited
to be able to offer the security and reliability offered by PCS to our own
customers," added Mr. Cole.
William F. Wiles, president of PCS, commented on the acquisition as follows:
"We are very excited about the opportunity to bring these two companies
together. We see it as an ideal fit of complementary communications products
and services, as well as technological expertise and capability.
"We anticipate that the combined strength of the two companies will allow us to
significantly increase the rate at which we will be able to deploy our ISP and
WiFi solutions into the market place," Wiles stated.
"The PCS team has a wealth of experience and outstanding technological
capability," stated Shane Smith, Chairman of the Board of Y3K. "In addition,
PCS has a solid customer base that is expanding in overall size and
diversifying across additional market segments.
"Now that our SB-2 registration has been declared effective, we anticipate that
completion of the acquisition of PCS can become the model for additional
acquisitions which we hope to complete over the next year, combining additional
technological expertise and a solid, growing customer base," added Smith.
Final terms of the acquisition will be announced upon the completion of the
acquisition.
About Y3K Secure Enterprise Software (http://www.ythk.com)/
Y3K Secure Enterprise Software, Inc. is a provider of end-to-end unified
communication technologies for the small- to medium-business market. Y3K
utilizes secure next-generation voice services, instant messaging, data
transfer, internet, conference calling and enterprise software to design
solutions to meet the communication needs of today's business world.
Through the integration of web based telecommunications and cutting edge
software technology, Y3K economically delivers secure unified communication
solutions that break down distance, time and media barriers to allow people to
communicate anywhere, anytime and across multiple mediums. Y3K has offices in
Bellevue and Seattle, Washington.
About Pacific Communication Systems:
Since 1996, Pacific Communication Systems has provided Internet business
solutions focused on the business professional and corporation Internet access
market. These solutions have been provided to a wide variety of client
environments including commercial buildings, government applications, retail
locations including coffee shops and micro-brew pubs, small businesses and
residential complexes. Building on its high-speed wired and wireless
connectivity that it provides to a broad customer base, PCS has worked with
developers and property management companies to tailor solutions to fulfill the
needs of large commercial and residential sites for both wired and wireless
services. Further, PCS's solutions have been customized to provide added
customer services and enhanced internal communications to large enterprises
such as the fast food industry. With these enhanced solutions and services, PCS
is rapidly becoming recognized as a company that provides reliable full
solutions across all market sectors.
DATASOURCE: Y3K Secure Enterprise Software, Inc.
CONTACT: Jennifer Stephens, Investor Relations, Y3K Secure Enterprise
Software, Inc., ; William F. Wiles,
President, Pacific Communication Systems, Inc., Phone (408) 295-6757, Fax
(408) 295-9783, Cell (408) 803-5130,