Smart Move, Inc. Announces Signed Letter of Intent to Acquire Star Relocation Network Alliance, Inc. Business
January 02 2008 - 1:19PM
PR Newswire (US)
Company Believes the Acquisition will Significantly Enhance Smart
Move's Participation in Relocation Industry Programs and Leverage
Synergies with Major Van Line Carriers. DENVER, Jan. 2
/PRNewswire-FirstCall/ -- Smart Move, Inc., (AMEX:MVE) a Denver
based asset logistics manager today announced that it had entered
into a letter of intent to acquire the business assets of Star
Relocation Network Alliance, Inc. ("Star Alliance"), a privately
owned operating division of Arpin Group, Inc. The assets of Star
Alliance which may be acquired by Smart Move include trademarks,
trade names and operating assets relating to Star Alliance's
co-branded and private label move management programs offered to
the real estate brokerage community, third party relocation
companies and HR departments of major corporations. Smart Move's
business activities associated with the acquired Star Alliance
assets will be supported by a national call center offering
personalized move counseling and customized relocation services.
The purchase price is expected to be based on an upfront payment in
Smart Move common stock and an earn-out portion based on the
achievement of top line revenue performance targets associated Star
Alliance assets and operations. The companies are currently
negotiating definitive agreements and, if successful, plan to
consummate the transaction during January 2008. Commenting on the
proposed acquisition of the Star Alliance, Chris Sapyta, Smart
Move's Chief Executive Officer, said, "The acquisition of Star
Alliance's business platform offers Smart Move complementary
revenue opportunities to add to our existing customer base and
enhanced capabilities to deliver full service move management to
corporate HR departments and relocation partners. "We are extremely
excited about this acquisition and will continue to look for
alliance opportunities with major van lines such as Arpin Group,
Inc. and strategic acquisition opportunities like this purchase of
Star Alliance assets, which allow us to leverage combined
capabilities to expand our business opportunities. "The Star
Alliance acquisition significantly enhances Smart Move's ability to
increase the value we bring to our corporate relocation customers.
We are especially pleased that Tom Magee, a 25 year veteran in the
household goods and moving industry and the primary architect of
the Star Alliance since its organization by Arpin Group, Inc., in
2003, plans to join the Smart Move corporate relocation sales
team," Sapyta added. "The full integration of Star Alliance's move
management programs and Tom's relocation sales expertise will allow
us to expand the use of the versatile SmartVault(TM) as a proven
solution for the household goods moving industry." About Star
Alliance: The Star Alliance customer resource center provides
customers with centralized coordination of both domestic and
international alliance partners. Star Alliance's partners include a
wide range of major service providers operating nationally and
internationally: NATIONAL -- Major van line affiliations -- Over
200 strategic agency partnerships -- Network of national third
party services -- Professional automobile transport service
INTERNATIONAL -- Worldwide agency partnerships -- Cross-border
moving specializes -- Customs clearance / document preparation Cost
control and service priorities are achieved for Star Alliance's
customers through both operational and performance standards
established for Star Move Alliance partners. Star Alliance
customers are also provided with performance evaluations and every
move is monitored to ensure complete customer satisfaction.
http://www.starmove.com/ About Smart Move: Smart Move is an
innovative logistics company providing services through deployment
of a fleet of Company-owned, GPS equipped SmartVault(TM) shipping
containers to execute the movement of goods. Smart Move utilizes
its proprietary and licensed technologies to efficiently manage its
fleet of assets, providing superior security, scheduling
flexibility and expedited service on behalf of its customers and
alliance partners. Smart Move sells its services direct to moving
consumers as well as providing moving capacity and guaranteed
logistic services to van lines and agents nation wide.
http://www.gosmartmove.com/ DISCLOSURE NOTICE: The statements in
this news release that are not historical statements, including
statements regarding possible transactions, expected benefits of
products and services, adoption by customers, continued innovation
and other statements identified by forward looking terms such as
"may," "will," "expect," "plan," "anticipate" or "project," are
forward-looking statements. These statements are subject to
numerous risks and uncertainties which could cause actual results
to differ materially from such statements, including, among others,
that there is no assurance that the transactions will be
consummated, developments in the moving industry, competition and
risks of failure to obtain consumer acceptance of innovations.
Smart Move has included a discussion of these and other pertinent
risk factors in its Quarterly Reports on Form 10-QSB most recently
filed with the SEC and disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Contact
information: Star Alliance, Tom Magee, 401-241-2354, Smart Move,
Inc. Pete Bloomquist, 303-339-9558, DATASOURCE: Smart Move, Inc.
CONTACT: Tom Magee of Star Alliance, +1-401-241-2354, ; or Pete
Bloomquist of Smart Move, Inc., +1-303-339-9558, Web site:
http://www.gosmartmove.com/ http://www.starmove.com/
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