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DataLogic International Completes Acquisition of IS Solutions,
LLC
IRVINE, Calif., March 1 /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 that it has closed under the
Asset Purchase Agreement the acquisition of IS Solutions, LLC, (ISS) a New
Mexico-based privately held provider of computing solutions for business and
government.
DataLogic International, Inc. (DataLogic) completed the transaction through a
newly formed, wholly-owned subsidiary, DataLogic New Mexico, Inc. Under the
terms of the Agreement, DataLogic New Mexico, Inc. has purchased selected
assets of ISS, including all customer contracts, customer lists, property, and
equipment. Additionally, Tony Grundler, managing member of ISS, entered into
an employment agreement as President of DataLogic New Mexico to ensure a smooth
transition and integration process.
Keith C. Moore, DataLogic's CEO commented on the acquisition, "The combination
of DataLogic's resources with IS Solutions' complete package of public safety
and Homeland Security solutions creates a powerful new opportunity for us. We
expect to use DataLogic's capabilities to expand IS Solutions' New Mexico based
business model, with state and local government agencies, throughout the United
States. An added benefit of this acquisition is the ISS management team will
market and sell Panther Trak(TM), DataLogic's GPS product, to New Mexico public
safety and other governmental agencies. The potential for synergies from this
combination is exciting."
The letter of intent to acquire the assets of ISS was signed in September 2004
and DataLogic has been conducting due diligence on the company and concluding
negotiations since that time. The transaction was completed with a combination
of cash and stock.
Tony Grundler, ISS's managing member said, "The ISS team is very pleased to be
a part of the DataLogic family of companies. We are confident that the
combination of our skill sets, products and relationships will be of benefit to
many communities and will also benefit DataLogic's business. We look forward
to implementing the transition."
DataLogic expects that the acquisition of IS Solutions will add incremental
revenue of $3.5 million to the Company's income statement for 2005 and will be
accretive to earnings.
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 clients 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 at http://www.dlgi.com/.
About IS Solutions, LLC.
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' clients include the New Mexico state government and a number of its
agencies. The company has a focus on public safety and is one of seven
computer sales companies approved to work with these government agencies. For
more information, please visit IS Solutions' web site http://www.isllcnm.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.
Contact Information:
Donna Dolan
Investor Relations
949-260-0120 ext 204
DATASOURCE: DataLogic International, Inc.
CONTACT: Investors, Donna Dolan of DataLogic International, Inc.,
+1-949-260-0120, ext 204,
Web site: http://www.isllcnm.com/
Web site: http://www.dlgi.com/