DataLogic International Updates Progress on Acquisition of IS Solutions, LLC
November 02 2004 - 2:49PM
PR Newswire (US)
DataLogic International Updates Progress on Acquisition of IS
Solutions, LLC IRVINE, Calif., Nov. 2 /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 provides investors an update on its
progress of acquiring of the assets of IS Solutions, LLC, a New
Mexico-based privately held provider of computing solutions for
business and government. Since the letter of intent to acquire the
assets of IS Solutions was signed in late September 2004, DataLogic
has been conducting due diligence on the company with satisfactory
results to date. DataLogic's auditor is soon to undertake a review
and audit of IS Solutions' financial results. Pending satisfactory
results of this audit and satisfactory completion of all other
conditions required by the acquisition agreement, the acquisition
is expected to close no later than December 15, 2004. DataLogic's
and IS Solutions' management teams continue to work together to
market and sell Panther Trak(TM), DataLogic's GPS product, to New
Mexico public safety and other governmental agencies. DataLogic
expects IS Solutions to add $4.5 million of sales, on a pro-forma
basis, in 2004 and approximately $5 million in 2005. 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 is one of seven
computer sales companies approved to work with these government
agencies. For more information, please visit IS Solutions' web site
at http://www.siincnm.com/. 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/. 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: investor relations, Donna Dolan of DataLogic
International, Inc., +1-949-260-0120, ext 204, Web site:
http://www.siincnm.com/ Web site: http://www.dlgi.com/
Copyright