DataLogic International Completes Acquisition of IS Solutions, LLC
March 01 2005 - 9:20AM
PR Newswire (US)
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/
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