text:
EX-99
3
ex991.htm
EXHIBIT 99
Information Architects Acquires ClearCast Communications Inc
Information Architects Acquires ClearCast Communications Inc.
June 12, 2006 9:00AM ET
Information Architects (IA) (OTCBB: IACH), a leader in online information solutions, today announced the acquisition of ClearCast Communications Inc. The acquisition of ClearCast Communications is an excellent complement to Information Architect's existing capabilities and products.
The day-to-day operations of ClearCast Communications include broadcasting, communications and e-commerce. The technology empowered by ClearCast will allow Information Architects to immediately gain market share in broadcasting, strengthen other areas of operations and introduce new areas for expansion.
While focusing on Internet technology and deliverables, ClearCast combines the power of broadcast media, the web, Voice-Over-Internet Telephony, e-commerce and security to provide solutions that bring both consumers and business together in a common marketplace. With solutions for both businesses and consumers, ClearCast has developed a virtual "world trade center" on the web by providing the connectivity, the affiliations, the content through their IPTV portal of channels and the capability to conduct business electronically in an easy to navigate and secure environment.
The ClearCast portfolio of products and services delivers value through: Voice-Over-Internet-Service for business and residential users, IPTV, original broadcast content and print assets. ClearCast has a dedicated group working with philanthropic ventures that benefit causes such as wildlife conservation, cancer research and other charitable organizations.
"The acquisition of ClearCast by Information Architects is a watershed moment because it provides a mechanism to allow ClearCast to integrate and capitalize on an expanding viewer base with IA's other synergistic departments", states Chris Cornilles, President of ClearCast Communications.
"ClearCast completes a value proposition that IA has been working on to achieve and maintain a competitive advantage in the marketplace by providing a cast of products that continues to drive value to our business partners and consumer base. We are excited to bring ClearCast's IPTV portal of channels to IA and its other business verticals", added Todd K. Morgan, CEO of Information Architects.
About Information Architects
IA (
www.ia.com
) and its affiliates have been developing, delivering and supporting products that fulfill specific needs in a wide variety of industries. These solutions have been delivered over the web and are intended to reach a wider audience that would not normally have access to these services. Through its portfolio of companies IA is able to expand its reach to a larger and more diverse audience. Information Architects has recently expanded its operations to include the entertainment and publishing industry.
Release Disclaimer
The statements contained in this press release contain certain forward-looking statements, including statements regarding Information Architect's expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to Information Architect's management as of the date hereof and actual results may vary based upon future events, both within and without the control of Information Architect's management.

text: Information Architects

text: ClearCast Communications Inc

text: Information Architects

text: ClearCast Communications Inc.

text: Information Architects

text: ClearCast Communications Inc.

text: ClearCast Communications

text: ClearCast Communications

text: ClearCast

text: Information Architects

text: ClearCast

text: ClearCast

text: ClearCast

text: ClearCast

text: ClearCast

text: Information Architects

text: ClearCast

text: Chris Cornilles

text: ClearCast Communications

text: ClearCast

text: ClearCast

text: Todd K. Morgan

text: Information Architects

text: Information Architects

text: Information Architects


dataset: buster

text:
EX-99.1
11
a07-3243_1ex99d1.htm
EX-99.1
Exhibit
99.1
LINN
ENERGY ANNOUNCES CLOSING OF TEXAS AND APPALACHIAN BASIN ACQUISITIONS FOR $454
MILLION; CLOSING OF $360 MILLION EQUITY PRIVATE PLACEMENT
Houston,
Texas, February 1, 2007
- Linn Energy, LLC (Nasdaq: LINE)
announced today that it has closed its previously announced acquisition of
certain oil and gas properties and related assets in the Texas Panhandle from
Stallion Energy for a contract price of $415 million. In addition, the Company closed the previously
announced acquisitions of certain natural gas properties located in the
Appalachian Basin for an aggregate contract price of $39 million. The acquisitions are subject to customary
closing adjustments. The Company also
announced that the lenders under its credit facility have approved an increase
in the borrowing base from $480 million to $725 million.
"The acquisition
of the Texas Panhandle assets establishes a new core area for the Company and
significantly adds to our development inventory", said Michael C. Linn,
Chairman, President and Chief Executive Officer of Linn Energy. "The acquisitions in the Appalachian Basin
are consistent with our strategy of acquiring bolt-on assets in our core areas
of operation".
With this
expansion of operations, Linn Energy is also pleased to announce that Arden L.
Walker, Jr. will be joining the organization as Senior Vice President - Western
Area Operations and Chief Engineer and will be responsible for the development
of the Company's assets in Texas, Oklahoma and California. Mr. Walker has over 24 years of experience in
the development and exploitation of conventional and unconventional
reservoirs. Most recently, he served as
General Manager of Asset Development for ConocoPhillips and formerly with
Burlington Resources. "The addition of
Arden illustrates our commitment to building a top quality operating team,"
said Mark E. Ellis, Executive Vice President and Chief Operating Officer of
Linn Energy.
In addition, the
Company closed its previously announced private placement of $360 million of
equity securities to third party investors, led by Zimmer Lucas Partners, LLC
and co-led by GPS Partners LLC and Lehman Brothers MLP Partners, L.P. The securities include 6,650,144 units and
7,465,946 class C units, or a total of 14,116,090 units. The Company used the proceeds from the
private placement, together with borrowings under the Company's credit
facility, to fund the purchase price of the acquisitions.
The class C units
represent a new class of equity in Linn Energy and, if approved by a unitholder
vote, will convert into units on a one-for-one basis. The Company has agreed to hold a special
meeting of unitholders to consider the conversion as soon as feasible but no
later than June 30, 2007. If all of the
class C units are converted into units, the Company anticipates that there will
be 57,718,962 total units outstanding on a pro forma basis.
The Company
expects that the acquisitions will be immediately accretive to distributable
cash flow per unit. As previously
announced, management currently anticipates recommending to the Board of
Directors an increase in the cash distribution beginning with the second fiscal
quarter of 2007 to an annual rate of $2.28 per unit from the current annual
rate of $2.08 per unit. In addition,
Linn Energy will retain a certain percentage of the expected accretion to
strengthen its distribution coverage ratios.
Lehman Brothers Inc.,
Citigroup Global Markets Inc., RBC Capital Markets Corporation and Jefferies
& Company, Inc. acted as lead placement agents in the private placement. Jefferies Randall & Dewey acted as
financial advisor to Linn Energy in the Texas acquisition. Vinson & Elkins LLP represented Linn
Energy in the private placement and the Stallion acquisition.
ABOUT LINN ENERGY
Linn Energy is an
independent oil and gas company focused on the development and acquisition of
long-lived properties which complement its asset profile in producing basins
within the United States. More
information about Linn Energy is available on the internet at
www.linnenergy.com
.
CONTACTS:
Kolja Rockov
Jeanine DeLay
Executive Vice President and CFO
Manager, Investor Relations
281-605-4169
281-605-4144
This press release
includes "forward-looking statements" within the meaning of the federal
securities law. All statements, other
than statements of historical facts, included in this press release that
address activities, events or developments that the Company expects, believes
or anticipates will or may occur in the future are forward-looking statements. These statements include but are not limited
to statements with respect to future distributable cash flow levels and future
distributions. These statements are
based on certain assumptions made by the Company based on management's
experience and perception of historical trends, current conditions, anticipated
future developments and other factors believed to be appropriate. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the control of
the Company, which may cause actual results to differ materially from those
implied or expressed by the forward-looking statements. These include risks relating to financial
performance and results, availability of sufficient cash flow to pay
distributions and execute our business plan, prices and demand for oil, natural
gas and natural gas liquids, our ability to replace reserves and efficiently
develop our current reserves and other important factors that could cause
actual results to differ materially from those projected as described in the
Company's reports filed with the Securities and Exchange Commission.
Any
forward-looking statement speaks only as of the date on which such statement is
made and the Company undertakes no obligation to correct or update any forward-looking
statement, whether as a result of new information, future events or otherwise.
This press release
shall not constitute an offer to sell or a solicitation of an offer to buy the
units nor shall there be any sale of these securities in any state in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. The equity
securities being offered have not been registered under the Securities Act of
1933 and may not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements.

label: organization

text: Linn Energy, LLC

text: Stallion Energy

label: person

text: Michael C. Linn

text: Citigroup Global Markets Inc.

text: RBC Capital Markets Corporation

override: organization

text:
Jefferies
& Company, Inc.

text: Jefferies Randall & Dewey

text: Vinson & Elkins LLP

source_dataset: expertai/BUSTER

annotation_scope: BUSTER company-role spans plus reviewed organization, fund, person, and event additions with document-local surface projection; annotations remain non-exhaustive


text:
EX-99.1
3
v205828_ex99-1.htm
FOR
IMMEDIATE RELEASE
Contact:
Ed Jaehne
Chief Strategy Officer
443-270-5300
KEYW
Completes Acquisition of Everest Technology Solutions
Hanover,
MD, December 13, 2010 (GlobeNewswire) - KEYW Corporation
(NASDAQ: KEYW) is pleased to announce completion of the acquisition
of Everest Technology Solutions, Inc. (
www.everesttsi.com
)
that was announced on December 2, 2010. As previously
disclosed, Everest brings added depth of capabilities and experience with our
largest Intelligence Community (IC) customer, as well as expanded breadth of
contracts and experience with other members of the IC.
KEYW has
now completed 9 acquisitions since the founding of the Company in August
2008. Everest joins KEYW's strategic platform for agile cyber
superiority solutions. With the addition of the Everest team, KEYW
now has over 700 employees with approximately 600 holding the highest clearance
level, TS/SCI.
Under the
previously disclosed terms of the purchase agreement, KEYW has purchased all of
the outstanding capital stock of Everest for $28 million in cash (exclusive of
accounting and attorney fees and customary closing costs and adjustments) and
149,054 shares of KEYW Common Stock. The number of shares of KEYW
stock issued was calculated by dividing $2.0 million by the average closing
price of KEYW common stock for the ten trading days immediately preceding
closing. KEYW expects that the acquisition will be accretive, subject
to a final purchase price accounting analysis. Bluestone Capital
Partners (
www.bluestonecapitalpartners.com
)
provided Everest with merger and acquisition advice and support and was
instrumental in completing this transaction quickly and
efficiently.
About KEYW
: KEYW provides
agile cyber superiority and cybersecurity solutions, primarily for U.S.
Government intelligence and defense customers. We create our
solutions by combining our services and expertise with hardware, software, and
proprietary technology to meet our customers' requirements. For more
information contact KEYW Corporation, 1334 Ashton Road, Hanover, Maryland 21076;
Phone 443-270-5300; Fax 443-270-5301; E-mail investor@keywcorp.com, or on the
Web at
www.keywcorp.com
.
Forward-Looking
Statements: Statements made in this press release that are not historical facts
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements
include but are not limited to statements about our future expectations, plans
and prospects, and other statements containing the words "estimates,"
"believes", "anticipates", "plans", "expects", "will", "potential", and similar
expressions. Our actual results, performance or achievements or
industry results may differ materially from those expressed or implied in these
forward-looking statements. These statements involve numerous risks
and uncertainties, including but not limited to those risk factors set forth in
our prospectus, dated September 30, 2010 and filed with the Securities and
Exchange Commission (SEC) on October 1, 2010 pursuant to Rule 424(b)(4) under
the Securities Act of 1933, and other filings that we make with the SEC from
time to time. Due to such uncertainties and risks, readers are
cautioned not to place undue reliance on such forward-looking
statements. KEYW is under no obligation to (and expressly disclaims
any such obligation to) update or alter its forward-looking statements whether
as a result of new information, future events or otherwise.
#
# # #

text: KEYW

text: Everest Technology Solutions

text: KEYW Corporation

text: KEYW

text: Everest Technology Solutions, Inc.

text: KEYW

text: KEYW

text: KEYW

text: KEYW

text: KEYW

text: KEYW

text: KEYW

text: KEYW

text: KEYW

text: KEYW

text: KEYW Corporation

text: KEYW


text:
EX-99.1
2
dex991.htm
PRESS RELEASE
Press Release
Exhibit 99.1
FOR FURTHER INFORMATION:
RE:
FTI Consulting, Inc.
900 Bestgate Road
Annapolis, MD 21401
(410) 224-8770
AT FTI CONSULTING:
AT FINANCIAL RELATIONS BOARD:
Jack
Dunn
Marilyn Windsor
Lisa Fortuna
Tim Grace
President &
CEO
General Inquiries
Analyst Inquiries
Media Inquiries
(410)
224-1483
(702) 515-1260
(312) 640-6779
(312) 640-6667
FOR IMMEDIATE RELEASE
MONDAY, FEBRUARY 28, 2005
FTI Consulting Completes Acquisition of Ringtail Solutions
Acquisition to Accelerate Growth of FTI's Technology Offerings
ANNAPOLIS, Md., Feb. 28, 2005 - FTI Consulting, Inc. (NYSE: FCN), the premier provider of corporate finance/restructuring, forensic and
litigation consulting and technology, and economic consulting, today announced that it has completed its previously announced acquisition of the assets of privately held Ringtail Solutions Group (Ringtail), including its operations in Australia, the
United Kingdom and the United States. The purchase price of $35.0 million comprised $20.0 million of cash plus $15.0 million in shares of FTI common stock, plus an earn-out over the next three years based on future performance. The cash portion of
the purchase price was financed by FTI from cash on hand and its existing credit facilities.
Established in 1997, Ringtail is a leading global developer of litigation support and knowledge management technologies for law firms, Fortune 500 corporate legal departments, government agencies and courts.
Ringtail's technologies are designed to ensure quality, reduce risk, increase productivity and improve cost effectiveness in the review, preparation and production of litigation data. In addition, Ringtail's software has also been used in
a transactional capacity to support "deal rooms" and merger and acquisition activity. As Ringtail's preferred North American Application Service Provider partner over the past three years, FTI has integrated Ringtail's
applications into its complement of technology offerings.
Ringtail is expected
to generate over $9.0 million in revenues and more than $6.0 million in earnings before interest, taxes, deprecation and amortization on a pro forma basis for its fiscal year ending June 30, 2005. In 2005, the acquisition is expected to have a
positive effect on FTI's cash flow from operations, but be neutral to FTI's earnings per share due to rapid amortization of intangible assets. It is expected to be accretive to earnings by $0.03 to $0.06 per share in 2006.
About FTI Consulting
FTI is the premier provider of corporate finance/restructuring, forensic and litigation
consulting and technology, and economic consulting. Located in 24 of the major US cities and London, FTI's total workforce of approximately 1,000 employees includes numerous PhDs, MBAs, CPAs, CIRAs, CFEs, and technologists who are committed to
delivering the highest level of service to clients. These clients include the world's largest corporations, financial institutions and law firms in matters involving financial and operational improvement and major litigation. Additional
information is available at:
http://www.fticonsulting.com
.
About Ringtail Solutions
Ringtail Solutions is a leading developer of Intranet-based legal and justice application technology for use with a web browser. Ringtail is
a global corporation, formed in 1997, with established offices in Williamsburg, Virginia; Melbourne, Australia and London, UK. Ringtail's flagship product, Ringtail(TM) CaseBook provides knowledge management and case preparation through an
Intranet repository for litigation document and information management and collaboration for legal cases. Additional information is available at:
http://www.ringtailsolutions.com
This press release includes "forward-looking" statements that involve uncertainties and risks. There can be no assurance that
actual results will not differ from the company's expectations. The company has experienced fluctuating revenues, operating income and cash flow in some prior periods and expects this may occur from time to time in the future. As a result of
these possible fluctuations, the company's actual results may differ from our projections. Further, preliminary results are subject to normal year-end adjustments. Other factors that could cause such differences include pace and timing of
additional acquisitions, the company's ability to realize cost savings and efficiencies, competitive and general economic conditions, retention of staff and clients and other risks described in the company's filings with the Securities and
Exchange Commission. We are under no duty to update any of the forward-looking statements to conform such statements to actual results or events and do not intend to do so.

text: FTI Consulting, Inc.

text: FTI CONSULTING

text: Tim Grace

text: FTI Consulting

text: FTI Consulting, Inc.

text: Ringtail Solutions Group

text: FTI Consulting


text:
EX-99.1
4
dex991.htm
PRESS RELEASE
Press Release
EXHIBIT 99.1
Viisage Completes Acquisition of Leading Iris Recognition Company SecuriMetrics
BILLERICA, Mass., Feb 21, 2006
(BUSINESS WIRE) -
Viisage Technology, Inc. (Nasdaq: VISG) today announced the completion of the acquisition of privately-held SecuriMetrics, Inc., provider of the world's only full-function handheld iris recognition and multi-modal
biometric devices, software applications and services. The intent to acquire SecuriMetrics was first announced by the Companies on February 6, 2006.
SecuriMetrics is expected to add approximately $15 million in revenue in 2006 and $3 million in EBITDA to Viisage.
Viisage
paid $28 million in cash for SecuriMetrics, net of the $2 million in cash on the acquired company's balance sheet. SecuriMetrics shareholders have the opportunity to earn up to an additional $13 million in consideration if key performance
thresholds and contingencies are reached, of which $11.5 million would be paid in shares of Viisage common stock at a fixed price of $17.69 per share. The cash portion of the purchase price is being funded from the initial $100 million investment
that L-1 Investment Partners made in Viisage in 2005. "Viisage momentum continues as we add an additional important modality to our identity solution portfolio with SecuriMetrics iris recognition capabilities", said Robert V. LaPenta,
chairman of the board of Viisage. "This complementary technology better positions both companies to vie for an even greater share of the biometrics market, particularly among military applications, civil and consumer identification
programs."
With the addition of iris recognition, Viisage now offers multiple and multi-modal biometric capabilities that include finger, face and
iris. Customer synergies between the two Companies offer the opportunity to develop an even deeper penetration within state, local, federal and international government agencies, particularly those focused on national security and homeland defense.
Together with the completion of the pending Identix merger, Viisage will become the only U.S.-based manufacturer of a full range of handheld and multi-modal biometric recognition solutions encompassing iris, finger and face.
Greg Peterson, founder and CEO of SecuriMetrics, Inc. said, "Our companies share a common vision of providing the most advanced, rapid and highly scalable methods
for securing and protecting personal identities and assets and I am confident that together we will achieve our vision".
SecuriMetrics business operations will remain in its current location in Martinez, California.
EBITDA
Viisage uses EBITDA as a non-GAAP financial performance measurement. EBITDA is calculated by adding back to net income (loss) interest, taxes, depreciation and
amortization. EBITDA is provided to investors to complement results provided in accordance with GAAP, as management believes the measures help illustrate underlying operating trends in the Company's business and uses the measures to establish
internal budgets and goals, manage the business, and evaluate performance. EBITDA should not be considered in isolation or as a substitute for comparable measures calculated and presented in accordance with GAAP. Viisage has not
provided a quantitative reconciliation of EBITDA with projected net income (loss) because such reconciliation cannot be provided without unreasonable
efforts.
About Viisage Technology, Inc.
Viisage
(NASDAQ: VISG) delivers advanced technology identity solutions for governments, law enforcement agencies and businesses concerned with enhancing security, reducing identity theft, and protecting personal privacy. Viisage solutions include secure
credentials such as passports and drivers' licenses, biometric technologies for uniquely linking individuals to those credentials, and credential authentication technologies to ensure the documents are valid before individuals are allowed to
cross borders, gain access to finances, or granted other privileges. With over 3,000 installations worldwide, Viisage's identity solutions stand out as a result of the Company's industry-leading technology and unique understanding of
customer needs. Viisage's product suite includes FaceTOOLS
®
SDK, Viisage PROOF
™
, FaceEXPLORER
®
,
iA-thenticate
®
, BorderGuard
®
, FacePASS
™
and FaceFINDER
®
.
This news release
contains forward-looking statements that involve risks and uncertainties. Forward-looking statements in this document and those made from time to time by Viisage through its senior management are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's current views with respect to the future events or financial performance discussed in this release, based on management's beliefs and
assumptions and information currently available. When used, the words "believe", "anticipate", "estimate", "project", "should", "expect", "plan", "assume" and similar
expressions that do not relate solely to historical matters identify forward-looking statements. Forward-looking statements concerning future plans or results are necessarily only estimates and actual results could differ materially from
expectations. Certain factors that could cause or contribute to such differences include, among other things, in particular, the size and timing of contract awards, performance on contracts, performance of acquired companies, availability and cost
of key components, unanticipated results from audits of the financial results of the Company and acquired companies, changing interpretations of generally accepted accounting principles, outcomes of government reviews, developments with respect to
litigation to which we are a party, potential fluctuations in quarterly results, dependence on large contracts and a limited number of customers, lengthy sales and implementation cycles, market acceptance of new or enhanced products and services,
proprietary technology and changing competitive conditions, system performance, management of growth, dependence on key personnel, ability to obtain project financing, general economic and political conditions and other factors affecting spending by
customers, and the unpredictable nature of working with government agencies. In addition, such risks and uncertainties include, among others, the following risks: that the merger with Identix will not close, that the regulatory or shareholder
approval will not be obtained, that the closing will be delayed, that customers and partners will not react favorably to the merger, integration risks, the risk that the combined companies may be unable to achieve cost-cutting synergies, and other
risks described in Viisage's and Identix' Securities and Exchange Commission filings, including the Registration Statement on Form S-4 to be filed with the SEC in connection with the transaction, Viisage's Annual Report on Form 10-K
for the year ended December 31, 2004 and its Quarterly Reports on Form 10-Q for the quarters ended April 3, 2005, July 3, 2005 and October 2, 2005 under the captions "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and
Results of Operations", and Identix' Annual Report on Form 10-K for the year ended June 30, 2005 and its Quarterly Report on Form 10-Q for the
quarter ended September 30, 2005 under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Viisage and Identix expressly disclaim any obligation to
update any forward-looking statements.
Additional Information and Where to Find It
Investors and security holders of both Viisage and Identix are advised to read the joint proxy statement/prospectus regarding the business combination transaction
referred to in the material below, when it becomes available, because it will contain important information. Viisage and Identix expect to mail a joint proxy statement/prospectus about the transaction to their respective stockholders. This joint
proxy statement/prospectus will be filed with the Securities and Exchange Commission by both companies. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus and other documents filed by the companies at the
Securities and Exchange Commission's web site at http://www.sec.gov. The joint proxy statement/prospectus and such other documents may also be obtained from Viisage or Identix by directing such requests to the companies.
Participants In Solicitation
Viisage,
Identix and their respective directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the merger. Information concerning Viisage's participants
is set forth in the proxy statement dated, November 21, 2005, for Viisage's special meeting of shareholders held on December 16, 2005 as filed with the SEC on Schedule 14A. Information concerning Identix' participants is set
forth in the proxy statement, dated October 6, 2005, for Identix' 2005 annual meeting of shareholders as filed with the SEC on Schedule 14A. Additional information regarding the interests of participants of Viisage and Identix in the
solicitation of proxies in respect of the merger will be included in the registration statement and joint proxy statement/prospectus filed with the SEC.
SOURCE: Viisage Technology, Inc.
Viisage Chad Crouch, 703-414-5474
ccrouch@Viisage.com
###

text: Viisage

text: SecuriMetrics

text: Viisage Technology, Inc.

text: SecuriMetrics, Inc.

text: SecuriMetrics

text: SecuriMetrics

text: Viisage

text: Viisage

text: SecuriMetrics

text: SecuriMetrics

text: Viisage

text: Viisage

text: Viisage

text: SecuriMetrics

text: Viisage

text: Viisage

text: Viisage

text: Greg Peterson

text: SecuriMetrics, Inc.

text: SecuriMetrics

text: Viisage

text: Viisage

text: Viisage Technology, Inc.

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage

text: Viisage Technology, Inc.

text: Viisage


text:
EX-99.1
2
k08976exv99w1.txt
EXHIBIT 99.1
EXHIBIT 99.1
ISABELLA BANK AND TRUST MARKETING DEPARTMENT
139 E. Broadway
Mt. Pleasant, MI 48858
FOR MORE INFORMATION, CONTACT:
Mary Olivieri, Community Relations Director
Isabella Bank and Trust
989-779-6309 Fax: 989-775-5501
FOR IMMEDIATE RELEASE
IBT BANCORP, INC. AND FARWELL STATE SAVINGS BANK MERGED
MT. PLEASANT, MICHIGAN -- OCTOBER 5, 2006
The Board of Directors of IBT Bancorp is pleased to announce the
shareholders of The Farwell State Savings Bank (FSSB) have approved joining the
IBT Bancorp family of community banks. The closing of the merger of FSSB into
Farmers State Bank of Breckenridge occurred October 3, 2006.
IBT Bancorp paid $29.00 in cash and granted 3.0382 shares of IBT Bancorp
common stock, valued at the market price of $38.18 when the definitive agreement
was signed on December 22, 2005, for a total price of $145.00 per FSSB share.
The total number of IBT Bancorp shares to be issued in conjunction with the
merger will be approximately 797,475 shares to FSSB's 120 shareholders. Former
FSSB shareholders will hold approximately 12.6% of the IBT Bancorp common shares
outstanding. FSSB's assets and earnings will represent approximately 10.5% and
17.3%, respectively of the consolidated total for IBT Bancorp.
With the FSSB addition, IBT Bancorp will have approximately $1.35 billion
of assets under management. The corporation includes Isabella Bank and Trust,
Farmers State Bank of Breckenridge, Isabella County Abstract Company, Mecosta
County Abstract and Title Company, IBT Title -- Clare County, Benchmark Title
Company of Greenville, Milltown Title of Grayling and Financial Group
Information Services.

text: IBT BANCORP, INC.

text: FARWELL STATE SAVINGS BANK

text: IBT Bancorp

text: The Farwell State Savings Bank

text: IBT Bancorp

text: IBT Bancorp

text: IBT Bancorp

text: IBT Bancorp

text: IBT Bancorp

text: IBT Bancorp

text: IBT Bancorp


text:
EX-99.1
2
a10-24145_1ex99d1.htm
EX-99.1
Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact:
CardioNet, Inc.
Heather Getz
Investor Relations
800-908-7103
investorrelations@cardionet.com
CardioNet, Inc. Completes Acquisition of Biotel Inc.
Conshohocken, PA, December 21, 2010
- CardioNet, Inc. (NASDAQ:BEAT), a leading wireless medical technology company with an initial focus on the diagnosis and monitoring of cardiac arrhythmias, announced today that it has successfully completed its previously announced acquisition of Biotel Inc. for $4.055 per share of Biotel common stock. The aggregate purchase price is approximately $11.6 million. With the completion of the acquisition, Biotel and CardioNet have filed to dismiss the outstanding litigation between the two companies with the United States District Court.
Joseph H. Capper, President and Chief Executive Officer of CardioNet, said, "We are excited to complete the acquisition of Biotel. We are looking forward to expanding our product offerings with Biotel's wireless event monitor as well as diversifying our revenue with the addition of the manufacturing and clinical services businesses".
About CardioNet
CardioNet is the leading provider of ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health. CardioNet's initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders, with a solution that it markets as Mobile Cardiac Outpatient TelemetryTM (MCOT™). More information can be found at http://www.cardionet.com.
Forward-Looking Statements
This press release includes certain forward-looking statements within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the effect of the completion of the acquisition of Biotel on CardioNet's business operations and financial results, our growth prospects, the prospects for our existing products and those we will acquire in the Biotel acquisition, and our confidence in the Company's future. These statements may be identified by words such as "expect", "anticipate", "estimate", "intend", "plan", "believe", "potential", "promises" and other words and terms of similar
meaning. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including important factors that could delay, divert, or change any of them, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, the ability to integrate Biotel's operations into CardioNet's business, the effect of the implementation of the Centers for Medicare and Medicaid's national price in 2011, the success of our efforts to address the operational issues, including cost savings initiatives, that affect our business, changes to reimbursement levels for our products, the success of our sales and marketing initiatives, our ability to attract and retain talented executive management and sales personnel, our ability to identify acquisition candidates, acquire them on attractive terms and integrate their operations into our business, the commercialization of new products, market factors, internal research and development initiatives, partnered research and development initiatives, competitive product development, changes in governmental regulations and legislation, the continued consolidation of payors, acceptance of our new products and services and patent protection and litigation. For further details and a discussion of these and other risks and uncertainties, please see our public filings with the Securities and Exchange Commission, including our latest periodic reports on Form 10-K and 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

text: CardioNet, Inc.

text: CardioNet, Inc.

text: Biotel Inc.

text: CardioNet, Inc.

text: Biotel Inc.

text: Biotel

text: Biotel

text: Joseph H. Capper

text: Biotel

text: Biotel

text: Biotel

text: Biotel

text: Biotel


text:
EX-99
2
xex-99.txt
EXHIBIT 99.1
NEWS FOR IMMEDIATE RELEASE
HEIDRICK & STRUGGLES COMPLETES ACQUISITION
OF HIGHLAND PARTNERS' EXECUTIVE SEARCH OPERATIONS
100 PERCENT OF CONSULTANTS OFFERED EMPLOYMENT ACCEPT
CHICAGO (October 2, 2006) - Heidrick & Struggles International, Inc.
(NASDAQ: HSII), the world's premier executive search and leadership
consulting firm, today announced it has completed the acquisition of
substantially all of the assets of Highland Partners, a leading
retained executive search operation and formerly a division of Hudson
Highland Group, Inc. (NASDAQ: HHGP). All 48 of the Highland Partners
consultants who were offered employment by Heidrick & Struggles have
accepted. Under the terms of the definitive agreement announced on
September 18, 2006, Heidrick & Struggles paid $36.6 million in cash
to Hudson Highland Group.
"We are pleased to welcome the Highland Partners consultants and their
associates to the Heidrick & Struggles team. These talented
individuals enhance our scale and competitive positioning in the US,
Canada, the UK, and Australia, as well as in many of our industry
practice groups", said Kevin Kelly, Chief Executive Officer of
Heidrick & Struggles. "This acquisition benefits all of our clients,
enabling us to expand the service offerings and scope of our businesses.
We are confident that our new consultants will be able to quickly
realize revenue and productivity increases from capitalizing on our
brand, by working closely with our practice groups, and by utilizing
our support capabilities, such as our Knowledge Management Center in
India."
In addition to the payment made today, Hudson Highland Group will be
eligible to receive additional earnout payments of up to $15 million
based on the acquired consultants achieving certain revenue metrics
in 2007 and 2008. The total purchase price, including the $36.6
million paid at closing and the 2007 and 2008 earnout payments, will
not exceed $51.6 million.
Kelly added, "We will be extremely disciplined in our efforts to
quickly capture expected cost synergies related to consolidating our
real estate, administrative and technology infrastructure, which, when
combined with expected revenue opportunities, we are confident will
drive profitable growth".
Heidrick & Struggles believes that this transaction will be slightly
dilutive to earnings and cash flow for the full year 2006, due to
integration costs and the amortization of intangible assets, but it is
expected to be accretive to earnings in 2007. The company will update
its 2006 annual guidance for net revenue and operating margin to
reflect the acquisition when it releases financial results for its
third quarter ended September 30, 2006, scheduled for October 31,
2006.
- more -
ABOUT HEIDRICK & STRUGGLES INTERNATIONAL, INC.
Heidrick & Struggles International, Inc. is the world's premier
provider of senior-level executive search and leadership consulting
services, including talent management, board building, executive on-
boarding and M&A effectiveness. For more than 50 years, we have
focused on quality service and built strong leadership teams through
our relationships with clients and individuals worldwide. Today,
Heidrick & Struggles leadership experts operate from principal
business centers in North America, Latin America, Europe and Asia
Pacific. For more information about Heidrick & Struggles, please
visit www.heidrick.com.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements. The forward-
looking statements are based on current expectations, estimates,
forecasts and projections about the industry in which we operate and
management's beliefs and assumptions. Forward-looking statements may
be identified by the use of words such as "expects", "anticipates,"
"intends", "plans", "believes", "seeks", "estimates", "projects,"
"forecasts", and similar expressions. Forward-looking statements are
not guarantees of future performance and involve certain known and
unknown risks, uncertainties and assumptions that are difficult to
predict. Actual outcomes and results may differ materially from what
is expressed, forecasted or implied in the forward-looking statements.
Factors that may affect the outcome of the forward-looking statements
include, among other things: our ability to attract and retain
qualified executive search consultants; the condition of the economies
in the United States, Europe, or elsewhere; social or political
instability in markets where we operate; the impact of foreign
currency exchange rate fluctuations; price competition; the ability to
forecast, on a quarterly basis, variable compensation accruals that
ultimately are determined based on the achievement of annual results;
delays or difficulties in integrating Highland Partners search
operations; an inability to achieve the planned cost savings from our
cost-reduction initiatives; an inability to sublease or assign unused
office space; our ability to realize our tax loss carryforwards; the
timing of any deferred tax asset valuation allowance reversals; the
mix of profit and loss by country; an impairment of our goodwill and
other intangible assets; and delays in the development and/or
implementation of new technology and systems. Our reports filed with
the U.S. Securities and Exchange Commission also include information
on factors that may affect the outcome of forward-looking statements.
We undertake no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events or
otherwise.
###
CONTACTS
Investors & Analysts:
Julie Creed, VP, Investor Relations: +1 312 496 1774 or
jcreed@heidrick.com
Media:
Eric Sodorff, Director, Communications: +1 312 496 1613 or
esodorff@heidrick.com
Joe Poulos, VP, Edelman: +1 312 240 2719 or joe.poulos@edelman.com

text: HEIDRICK & STRUGGLES

text: HIGHLAND PARTNERS

text: Highland Partners

text:
Hudson
Highland Group

text: Highland Partners

text: Heidrick & Struggles

text: Heidrick & Struggles

text: Hudson Highland Group

text: Highland Partners

text: Heidrick & Struggles

text: Kevin Kelly

text: Heidrick & Struggles

text: Hudson Highland Group

text: Heidrick & Struggles

text: Heidrick & Struggles

text: Heidrick & Struggles

text: Highland Partners

text: Julie Creed

text: Eric Sodorff

text: Joe Poulos


text:
EX-99.2
3
e500034_ex99-2.txt
PRESS RELEASE DATED JANUARY 14, 2005
[LOGO]
First Niagara
Financial Group, Inc.
FIRST NIAGARA FINANCIAL GROUP, INC. ANNOUNCES THE COMPLETION OF ITS ACQUISITION
OF HUDSON RIVER BANCORP, INC.
Lockport, N.Y. - January 14, 2005 - First Niagara Financial Group, Inc. (NASDAQ:
FNFG), announced that today it completed its acquisition of Hudson River
Bancorp, Inc. In connection with this transaction, Hudson River stockholders
received 35.8 million shares of First Niagara common stock and cash payments
totaling $126.8 million.
"I want to welcome Hudson River's employees, customers and shareholders to the
First Niagara family", stated President and CEO, Paul J. Kolkmeyer. "I would
also like to personally welcome Carl Florio, Hudson River's former President and
CEO, as our new Eastern Regional President. His experience and knowledge
strengthens our organization and enhances our ability to leverage our leading
market share position in the Capital Region and help take First Niagara's
performance to the next level".
Mr. Florio said, "I am extremely proud of the accomplishments of the Hudson
River organization, particularly throughout this transition period. Hudson River
and First Niagara have long and proud histories as community banks and I look
forward to contributing to the success of the combined organization".
Under terms of the merger agreement dated April 1, 2004, the per share value of
the final merger consideration received by Hudson River stockholders is $19.0632
based on an average First Niagara stock price just prior to the merger of $13.36
per share. Hudson River stockholders who tendered an election received the
merger consideration they requested. Accordingly, Hudson River stockholders
received 1.4269 shares of First Niagara common stock in exchange for each of
their shares of Hudson River common stock for which a stock election was made
and $19.0632 for each of their shares of Hudson River common stock for which a
cash election was made. Hudson River stockholders who did not make an election
or indicated "No Preference" will receive 0.3544 shares of First Niagara common
stock and $14.33 for each of their shares of Hudson River common stock, subject
to final determination. Cash was paid in lieu of fractional shares.
Commenting on the close of the transaction Mr. Kolkmeyer also stated, "On
Tuesday, all Hudson River branches will re-open under the First Niagara banner
and we expect that all major systems conversions will be completed. The
customers of Hudson River will continue to be served by the same familiar faces
they have always done business with and will receive the same level of
extraordinary service they have come to expect".
At December 31, 2004, Hudson River Bancorp, Inc. headquartered in Hudson, New
York, had total assets of $2.5 billion and deposits of $1.8 billion. With the
addition of Hudson's branch offices, First Niagara now has nearly $8 billion in
assets and operates 116 branches and several financial services subsidiaries
across Upstate New York.
First Niagara was advised by the investment banking firm of Ryan Beck & Co. and
the law firm of Luse, Gorman, Pomerenk & Schick, P.C. Hudson River was advised
by the investment banking firm of Sandler O'Neill & Partners, L.P. and the law
firm of Silver Freedman & Taff L.L.P.
Officer Contacts
Paul J. Kolkmeyer.......... President and CEO
John R. Koelmel............ Chief Financial Officer
Christopher J. Thome....... Reporting and Investor Relations Manager
(716) 625-7645
chris.thome@fnfg.com
Leslie G. Garrity.......... Public Relations and Corporate Communications
Manager
(716) 625-7528
leslie.garrity@fnfg.com

text:
First Niagara
Financial Group, Inc.

text: FIRST NIAGARA FINANCIAL GROUP, INC

text: HUDSON RIVER BANCORP, INC.

text: First Niagara Financial Group, Inc.

text:
Hudson River
Bancorp, Inc.

text: Hudson River Bancorp, Inc.

text: Ryan Beck & Co.

text: Luse, Gorman, Pomerenk & Schick, P.C.

text: Sandler O'Neill & Partners, L.P.

text: Silver Freedman & Taff L.L.P


text:
EX-99.1
3
a20190103pressreleasea.htm
EXHIBIT 99.1
Document
ZAGG Inc Acquires HALO, a Leading Direct-to-Consumer Mobile Accessories Company with an Extensive IP Portfolio, for $43 Million in Cash and Stock
SALT LAKE CITY, Jan. 03, 2019 (GLOBE NEWSWIRE) - ZAGG Inc (NASDAQ:ZAGG), a global leader and innovator in accessories and technologies that empower mobile lifestyles, today announced it has acquired HALO, a leading direct-to-consumer mobile accessories company with an extensive IP portfolio, for a total purchase price of $43 million in a combination of cash and stock.
HALO has a rich history in innovation and a broad IP portfolio-including wireless charging, car and wall chargers, portable power, power wallets, and more-and a long-standing reputation as one of the top selling electronics brands on QVC
®
. The addition of HALO strengthens ZAGG's product, brand, distribution, innovation pipeline, and IP portfolio while furthering its mission to empower the mobile lifestyle. HALO will benefit by leveraging ZAGG's expansive global distribution footprint and expertise in building preferred brands to drive increased sales and profitability. ZAGG gains a profitable business that will contribute incremental revenue and accretive gross margins, while also expanding ZAGG's distribution network through a strong relationship with QVC, a global leader in televised home shopping and e-commerce. By combining forces, ZAGG will be unique in offering, at scale, the most innovative mobile lifestyle solutions available on the market today and better positioned to address the evolving needs of consumers around the world. ZAGG will retain the services of HALO's talented senior leadership team and employees in the U.S., and the Cayman Islands.
"The acquisition of HALO is consistent with our commitment to offer the most innovative products, gives us access to an incredibly strong IP portfolio, and allows us to strategically expand product distribution", said Chris Ahern, CEO of ZAGG Inc. "It creates meaningful value for our shareholders through the addition of a powerful new and profitable revenue stream along with an entrée into the multibillion-dollar televised and online home shopping channel. HALO's business is immediately accretive to our gross margins, and provides us with incremental and diversified growth opportunities as we continue toward our goal of $1 billion in annual revenue and enhanced profitability".
Durham Jones & Pinegar, P.C. acted as legal counsel to ZAGG in the transaction. Sullivan & Worcester LLP acted as legal counsel to HALO in the transaction.
About ZAGG Inc
ZAGG Inc (NASDAQ:ZAGG) is a global leader in accessories and technologies that empower mobile lifestyles. The Company has an award-winning product portfolio that includes screen protection, power management solutions, mobile keyboards, and personal audio sold under the InvisibleShield®, mophie®, ZAGG®, BRAVEN®, IFROGZ®, and Gear4® brands. ZAGG Inc has operations in the United States, Ireland, the U.K., and China. For more information, please visit the company's websites at www.zagg.com, www.mophie.com, and Gear4.com.
About HALO
HALO designs, develops and markets innovative technology products to make consumers' lives easier. The company is a leading direct-to-consumer mobile accessories brand that offers a wide array of products including wireless charging, portable power, car jump starters, and power handbags that incorporate aesthetically beautiful designs and pragmatic functionality. HALO is committed to offering products at the nexus of fashion and function created to power your life. The company has operations in the United States and the Cayman Islands. For more information, please visit the company's website at www.BestHalo.com.
Media Contact
ZAGG Inc
Jeff DuBois
801-506-7336
jeff.dubois@zagg.com

text: ZAGG Inc

text: HALO

text: ZAGG Inc

text: HALO

text: HALO

text: HALO

text: HALO

text: HALO

text: HALO

text: Chris Ahern

text: ZAGG Inc

text: HALO

text: Durham Jones & Pinegar, P.C.

text: Sullivan & Worcester LLP

text: HALO

text: ZAGG Inc

text: ZAGG Inc

text: ZAGG Inc

text: HALO

text: HALO

text: HALO

text: ZAGG Inc


text:
EX-99.1
2
beldenannouncescomplet.htm
EX-99.1
Document
Exhibit 99.1
Exhibit 99.1
1 North Brentwood Boulevard
Phone: 314.854.8000
15th Floor
Fax: 314.854.8003
St. Louis, Missouri 63105
www.Belden.com
News Release
Belden Announces Completion of Grass Valley Divestiture
St. Louis, Missouri - July 2, 2020 - Belden Inc. (NYSE: BDC), a leading global supplier of specialty networking solutions, today announced the completion of the previously announced divestiture of the Company's Live Media business ("Grass Valley") to Black Dragon Capital, a private equity firm led by technology operating executives with deep media-related expertise and a proven track record of building market leading companies.
The transaction includes cash consideration plus various forms of deferred consideration. The gross cash consideration is $120 million, or approximately $67 million net of cash delivered with the business. Belden will also invest $3 million for an equity interest in Grass Valley with the right to put the equity back to Black Dragon at any time during the next 120 days. The deferred consideration includes a $175 million five-year seller's note, up to $88 million in PIK interest on the seller's note over its five-year term, and $178 million in potential earn-out payments. The earn-out payments are based on certain performance thresholds. Both the seller's note and the PIK interest are due to Belden after five years. Grass Valley's financial results were presented as discontinued operations in our full year 2019 and first quarter 2020 financial statements.
Roel Vestjens, President and CEO of Belden Inc., said, "This is an important milestone for Belden. We are pleased to announce the completion of this transaction, and we look forward to supporting the Black Dragon and Grass Valley teams during the transition. We are extremely excited about the opportunities for Belden going forward as we continue our transformation and align our portfolio of businesses around the favorable secular trends in industrial automation, cybersecurity, broadband & 5G, and smart buildings".
Forward-Looking Statements
This release and any statements made by us concerning the subject matter of this release may contain forward-looking statements. Forward-looking statements also include any statements regarding future financial performance (including revenues, expenses, earnings, margins, cash flows, dividends, capital expenditures and financial condition), plans and objectives, and related assumptions. In some cases these statements are identifiable through the use of words such as "anticipate", "believe", "estimate", "forecast", "guide", "expect", "intend", "plan", "project", "target", "can", "could", "may", "should", "will", "would" and similar expressions. Forward-looking statements reflect management's current beliefs and expectations and are not guarantees of future performance. Actual results may differ materially from those suggested by any forward-looking statements for a number of reasons, including, without limitation: the lack of certainty as to the duration and magnitude of the impact of COVID-19 and the economic recovery from that impact; the results of the Company's impairment
analysis, which could reduce EPS and adjusted EPS; the presence of substitute products in the marketplace; the inability of the Company to develop and introduce new products and competitive responses to our products; the increased influence of chief information officers and similar high-level executives; the increased prevalence of cloud computing; the inability to execute and realize the expected benefits from strategic initiatives (including revenue growth, cost control, and productivity improvement programs); the inability to achieve our strategic priorities in emerging markets; the inability to successfully complete and integrate acquisitions in furtherance of the Company's strategic plan; foreign and domestic political, economic and other uncertainties, including changes in currency exchange rates; changes in tax laws and variability in the Company's quarterly and annual effective tax rates; the impact of a challenging global economy or a downturn in served markets; the impact of changes in global tariffs and trade agreements; difficulty in forecasting revenue due to the unpredictable timing of orders related to customer projects; the competitiveness of the global markets in which we operate; volatility in credit and foreign exchange markets; the cost and availability of raw materials including copper, plastic compounds, electronic components, and other materials; the inability to obtain components in sufficient quantities on commercially reasonable terms; disruptions in the Company's information systems including due to cyber-attacks; perceived or actual product failures; risks related to the use of open source software; disruption of, or changes in, the Company's key distribution channels; the inability to retain senior management and key employees; assertions that the Company violates the intellectual property of others and the ownership of intellectual property by competitors and others that prevents the use of that intellectual property by the Company; the impact of regulatory requirements and other legal compliance issues; the impairment of goodwill and other intangible assets and the resulting impact on financial performance; disruptions and increased costs attendant to collective bargaining groups and other labor matters; and other factors.
For a more complete discussion of risk factors, please see our Annual Report on Form 10-K for the quarter ended December 31, 2019, filed with the SEC on February 11, 2020. Although the content of this release represents our best judgment as of the date of this report based on information currently available and reasonable assumptions, we give no assurances that the expectations will prove to be accurate. Deviations from the expectations may be material. For these reasons, Belden cautions readers to not place undue reliance on these forward-looking statements, which speak only as of the date made. Belden disclaims any duty to update any forward-looking statements as a result of new information, future developments, or otherwise, except as required by law.
About Belden
Belden Inc. delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial and enterprise markets. With innovative solutions targeted at reliable and secure transmission of rapidly growing amounts of data, audio and video needed for today's applications, Belden is at the center of the global transformation to a connected world. Founded in 1902, the company is headquartered in St. Louis and has manufacturing capabilities in North and South America, Europe and Asia. For more information, visit us at www.belden.com or follow us on Twitter @BeldenInc.
Contact:
Belden Investor Relations
314-854-8054
Investor.Relations@Belden.com

text: Belden

text: Grass Valley

text: Belden Inc.

text: Grass Valley

label: fund

text: Black Dragon Capital

override: fund

text: Belden

text: Grass Valley

text: Belden

text: Grass Valley

text: Roel Vestjens

text: Belden Inc.

text: Belden

text: Grass Valley

text: Belden

text: Belden

text: Belden

text: Belden

text: Belden Inc.

text: Belden

text: Belden


text:
EX-99.1
4
exhibit99-1pressrls050808.htm
EXHIBIT 99.1 - PRESS RELEASE COMPLETION OF SAUERESSIG PURCHASE
exhibit99-1pressrls050808.htm
Exhibit
99.1
May 8,
2008
Steven F.
Nicola
CFO,
Secretary & Treasurer
412-442-8262
MATTHEWS
INTERNATIONAL CORPORATION
ANNOUNCES
THE COMPLETION OF THE PURCHASE OF A MAJORITY INTEREST IN SAUERESSIG GMBH &
CO. KG
PITTSBURGH, PA, May 8, 2008 -- Matthews
International Corporation (NASDAQ NMS: MATW) today announced the completion of
its purchase of a 78% ownership interest in Saueressig GmbH & Co. KG
("Saueressig"). Saueressig, which is a leading European provider of
pre-press services and gravure printing forms, is headquartered in Vreden,
Germany and has its principal manufacturing operations in Germany, Poland and
England. Matthews initially announced on February 25, 2008 the
signing of the definitive agreement for the purchase, which was subject to
regulatory approval in Germany.
Saueressig
will operate as a subsidiary within Matthews' Graphics Imaging
Group. Kilian Saueressig, who holds the remaining 22% ownership
interest, will remain as President of Saueressig. Saueressig reported
sales of approximately €90 million (U.S.$130 million) in calendar 2007 and
has approximately 900 employees.
Matthews International Corporation,
headquartered in Pittsburgh, Pennsylvania, is a designer, manufacturer and
marketer principally of memorialization products and brand solutions.
Memorialization products consist primarily of bronze memorials and other
memorialization products, caskets and cremation equipment for the cemetery and
funeral home industries. Brand solutions include graphics imaging products
and services, marking products, and merchandising solutions. The Company's
products and services include cast bronze memorials and other memorialization
products; caskets; cast and etched architectural products; cremation equipment
and cremation-related products; mausoleums; brand management; printing plates,
pre-press services and imaging services for the primary packaging and corrugated
industries; marking and coding equipment and consumables, and industrial
automation products for identifying, tracking and conveying various consumer and
industrial products, components and packaging containers; and merchandising
display systems and marketing and design services.
Matthews
International
Corporation
2 of
2
May
8, 2008
Any
forward-looking statements contained in this release are included pursuant to
the "safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown risks
and uncertainties that may cause the Company's actual results in future periods
to be materially different from management's expectations. Although
the Company believes that the expectations reflected in such forward-looking
statements are reasonable, no assurance can be given that such expectations will
prove correct. Factors that could cause the Company's results to
differ materially from the results discussed in such forward-looking statements
principally include economic, competitive, and technological factors beyond the
Company's control.

text: SAUERESSIG

text:
Steven F.
Nicola

text:
MATTHEWS
INTERNATIONAL CORPORATION

text:
SAUERESSIG GMBH &
CO

text:
Matthews
International Corporation

text: Saueressig GmbH & Co. KG

text: Saueressig

text: Saueressig

text: Matthews

text: Saueressig

text: Matthews

text: Saueressig

text: Saueressig

text: Saueressig

text: Matthews International Corporation

text:
Matthews
International
Corporation


text:
EX-99.1
2
p70845exv99w1.htm
EX-99.1
exv99w1
EXHIBIT 99.1
Avnet, Inc.
2211 South 47 Street
Phoenix, AZ 85034
PRESS RELEASE
July 5, 2005
Avnet, Inc. Completes
the Acquisition of Memec Group Holdings Limited and
Appoints Peter Smitham to the Avnet, Inc. Board of Directors
Phoenix, Ariz. - July 5, 2005 - Avnet, Inc. (NYSE:AVT) today announced that it has completed its
acquisition of Memec Group Holdings Limited ("Memec"), a leading global distributor specializing in
semiconductors. Memec investors received a total of approximately 24.011 million shares of Avnet
common stock plus approximately $64 million of cash. The purchase price, which includes the
assumption of approximately $173 million of Memec's net debt and $8 million of estimated
transaction costs, was $663 million based on the five-day average stock price of $17.42 for the
period commencing two trading days before the April 26, 2005 announcement of the transaction. The
acquisition will be immediately accretive to earnings (excluding integration charges) and, once the
integration is complete, will generate annual cost savings of at least $130 million (including $10
million from reduced interest expense).
Roy Vallee, Avnet's chairman and chief executive officer, stated, "The acquisition of Memec, our
largest so far, enhances our competitive position in every region of the world and has the
potential to be our most successful acquisition to date. By combining our global operations we
will realize substantial efficiencies in our EMEA (Europe, Middle East and Africa) and Americas
operations while significantly expanding our resources, particularly customer facing personnel.
This acquisition also substantially expands our presence in the high growth Asia Pacific markets
while providing entrée into the Japanese market, which is the largest electronic components market
that we previously did not serve".
In connection with the completion of the acquisition, Avnet also announced that Peter Smitham has
been appointed to the Avnet, Inc. Board of Directors, effective immediately. Mr. Smitham, who
chaired Memec's Board of Directors, is a partner of Permira Advisers Limited, an entity that
advises Permira Funds, formerly Schroder Ventures, and has served as the European Chairman of
Permira, from 1994 until 2000. Mr. Smitham also serves as Chairman of the Supervisory Board of
Actis, a leading private equity investor in emerging markets.
"We are pleased to welcome Mr. Smitham to the Avnet Board", commented Mr. Vallee. "His investment
experience coupled with his knowledge of technology distribution and global markets will be a real
asset to our Board".
Memec built a unique distribution business focused on providing pro-active engineering support to
help customers evaluate and select key semiconductor devices at an early stage of the design
process. This ability to secure design wins is attractive to suppliers who want their proprietary
products marketed to a large number of customers.
Harley Feldberg, President of Avnet Electronics Marketing, added, "By merging the significant
demand creation resources of Memec with the design and supply chain services of Avnet Electronics
Marketing, we will create a more balanced business model that can build stronger
relationships with our trading partners. With an expanded suite of products and services we will
deliver more value to our combined customer base while accelerating the achievement of our return
on capital goals".
The Memec team will be integrated into Electronics Marketing and the integration is expected to be
completed by the end of June 2006. David Ashworth, Memec's former chief executive officer, has
been named senior vice president of global semiconductors for Electronics Marketing. Avnet will
continue to go to market with its two operating groups - Electronics Marketing and Technology
Solutions through its three geographic regions - the Americas, EMEA and Asia.
Forward Looking Statements
This press release contains certain "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. These
statements, particularly regarding the post-closing integration, the anticipated gains in returns
on capital, and other post-closing operating prospects, represent the Company's judgment, as of the
date of this release. Risk and uncertainties that may materially affect the actual results include:
(1) the extent and timing of our ability to obtain revenue enhancements and cost savings following
the transaction and (2) those that are described from time to time in Avnet's SEC filings,
including the Company's reports on Form 10-K, Form 10-Q and Current Reports on 8-K. Avnet
expressly disclaims any intent or obligation to update such forward-looking statements, whether as
a result of new information, future events or otherwise.
About Avnet
Avnet (NYSE:AVT) enables success from the center of the technology industry, providing
cost-effective services and solutions vital to a broad base of more than 100,000 customers and 300
suppliers. The Company markets, distributes and adds value to a wide variety of electronic
components, enterprise computer products and embedded subsystems. Through its premier market
position, Avnet brings a breadth and depth of capabilities that help its trading partners
accelerate growth and realize cost efficiencies. Avnet and Memec generated combined revenue in
excess of $13 billion in the past year through sales in 69 countries. Visit Avnet's Investor
Relations Website at
www.ir.avnet.com
or contact us at
investorrelations@avnet.com
.
Investor Relations Contact:
Vincent Keenan
Investor Relations
(480) 643-7053
investorrelations@avnet.com
Media Contacts:
Jan Jurcy
Public Relations, Americas
(480) 643-7642
jan.jurcy@avnet.com
Georg Steinberger
Public Relations, EMEA
00 49 8121 774 203
georg.steinberger@avnet.com
Peggy Lee
Public Relations, Asia
852 2176 5265
peggy.lee@avnet.com

text: Avnet, Inc.

text: Avnet, Inc.

text: Memec Group Holdings Limited

text: Avnet, Inc.

text: Avnet, Inc.

text: Memec Group Holdings Limited

text: Memec

text: Memec

text: Memec

text: Memec

text: Avnet, Inc.

text: Memec

text: Memec

text: Harley Feldberg

text: Memec

text: Memec

text: Memec

text: Memec


text:
EX-99.1
3
chefpressrelease.htm
EXHIBIT 99.1
Exhibit
Exhibit 99.1
Progress Announces Acquisition of Chef
Acquisition aligns with strategy for accretive acquisition and extends product offerings in DevOps and DevSecOps with market-leading infrastructure automation
BEDFORD, Mass., Sept. 8, 2020 -- Progress (NASDAQ: PRGS), the leading provider of application development and digital experience technologies, today announced that it has entered into a definitive agreement to acquire Chef, a global leader in DevOps and DevSecOps, providing complete infrastructure automation to build, deploy, manage and secure applications in modern multi-cloud and hybrid environments, as well as on-premises.
"Chef is a market leader with best-in-class products, a vibrant developer community, an impressive blue-chip customer base and highly skilled and engaged employees", said Yogesh Gupta, CEO, Progress. "Chef has built a successful business, product portfolio and go-to-market strategy and we will expand and accelerate that by bringing our resources to bear, building on the momentum Chef has established to date".
Founded in 2008, and with over $70 million in annual recurring revenue, Chef is a leader in continuous automation, an innovator in application automation and a pioneer of the DevSecOps movement. Its mission is to help the most enduring and transformative companies use technology to become fast, efficient and innovative software-driven organizations. Chef products include: Chef Enterprise Automation Stack, Chef Infra, Chef InSpec, Chef Habitat, Chef Compliance and Chef Desktop.
Progress is a trusted provider of some of the best products to develop, deploy and manage high-impact business applications and Chef will enhance that position by providing industry-leading compliance and application automation products for multi-cloud and on-prem infrastructure. The acquisition will bolster Progress' core offerings, enabling customers to respond faster to business demands and improve efficiency. The acquisition also aligns with Progress' growth strategy through accretive acquisitions and will add both scale and cash flow.
Progress will acquire Chef for $220 million in cash, subject to customary adjustments. Progress will fund the transaction with existing cash on hand and funds secured under its existing credit facility. The transaction is expected to be accretive beginning in Q1 FY2021 to both non-GAAP earnings per share and cash flow.
"This acquisition perfectly aligns with our growth strategy and meets the requirements that we've previously laid out: a strong recurring revenue model, technology that complements our business, a loyal customer base and the ability to leverage our operating model and infrastructure to run the business more efficiently", continued Gupta. "We're thrilled to add Chef to our product portfolio and are confident that this acquisition will provide benefit to both organizations, as well as our customers, partners, investors and the Chef community".
"Chef and Progress share a vision for the future of DevSecOps and Progress will provide the scale to further drive Chef's platform forward and deliver additional value to our customers", said Barry Crist, CEO, Chef. "At the same time, Chef fills a need in the Progress portfolio in DevSecOps, infrastructure, application, and compliance automation that is highly complementary to its existing products. For Chef, this acquisition is our next chapter, and Progress will help enhance our growth potential, support our Open Source vision, and provide broader opportunities for our customers, partners, employees and community".
The acquisition is expected to close in October 2020, subject to obtaining regulatory consents and satisfaction of other customary closing conditions.
More information can be found in our presentation at www.progress.com.
Guggenheim Securities, LLC acted as the exclusive financial advisor to Chef in connection with the transaction. Wilmer Cutler Pickering Hale and Dorr LLP served as Progress' legal counsel and Wilson Sonsini Goodrich & Rosati LLP served as Chef's legal counsel with respect to the transaction.
More information on Chef can be found at https://chef.io.
Note Regarding Forward-Looking Statements
This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Progress has identified some of these forward-looking statements with words like "believe", "may", "could", "would", "might", "should", "expect", "intend", "plan", "target", "anticipate" and "continue", the negative of these words, other terms of similar meaning or the use of future dates.
Risks, uncertainties and other important factors that could cause actual results to differ from those expressed or implied in the forward looking statements include: uncertainties as to the timing of the closing of Progress' acquisition of Chef; the possibility that various closing conditions for the transaction may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; the effects of disruption from the transaction making it more difficult to maintain relationships with employees, licensees, other business partners or governmental entities; other business effects, including the effects of industry, economic or political conditions outside of Progress' or Chef's control; transaction costs; actual or contingent liabilities; uncertainties as to whether anticipated synergies will be realized; and uncertainties as to whether Chef's business will be successfully integrated with Progress' business. For further information regarding risks and uncertainties associated with Progress' business, please refer to Progress' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended November 30, 2019. Progress undertakes no obligation to update any forward-looking statements, which speak only as of the date of this press release.
About Progress Progress (NASDAQ: PRGS) offers the leading platform for developing and deploying strategic business applications. We enable customers and partners to deliver modern, high-impact digital experiences with a fraction of the effort, time and cost. Progress offers powerful tools for easily
building adaptive user experiences across any type of device or touchpoint, the flexibility of a cloud-native app dev platform to deliver modern apps, leading data connectivity technology, web content management, business rules, secure file transfer, network monitoring, plus award-winning machine learning that enables cognitive capabilities to be a part of any application. Over 1,700 independent software vendors, 100,000 enterprise customers and two million developers rely on Progress to power their applications. Learn about Progress at www.progress.com or +1-800-477-6473.
About Chef
Chef is the global leader in DevSecOps and the developer of Chef Enterprise Automation Stack™ automating infrastructure, compliance and application delivery for many of the Fortune 500. For more than 10 years, Chef has led the industry in DevOps innovation, uniting teams at organizations of all sizes and optimizing processes and outcomes to accelerate its customers' business growth. Chef software is developed as 100 percent open source under the Apache 2.0 license. For more information, visit https://chef.io and follow @chef.
Progress is a trademark or registered trademark of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.
Press Contacts: Kim Baker Progress +1 781-280-4000 pr@progress.com

text: Progress

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text: Guggenheim Securities, LLC

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text:
EX-99.1
4
d464998dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
Gigamon Announces Completion of Acquisition by Elliott Management and Qatar Investment Authority
Santa Clara, Calif., December
27, 2017
-
Gigamon Inc., ("Gigamon") the leader in traffic visibility solutions
for cybersecurity and monitoring applications, today announced the successful completion of its acquisition by Elliott Management ("Elliott"), a leading multi-strategy private investment firm, and the Qatar Investment Authority
("QIA"). Elliott's investment is being led by its private equity affiliate, Evergreen Coast Capital ("Evergreen"). The acquisition, valued at approximately $1.6 billion, was approved by Gigamon shareholders on
December 22, 2017. As a result of the completion of the transaction, shareholders will receive $38.50 per share in cash and Gigamon common stock will no longer be listed for trading on the NYSE.
"This is a pivotal day for Gigamon employees, customers and partners around the world. With the acquisition complete, our team will continue to execute
strategic initatives that will both empower our customers with new, rich functionality and drive Gigamon to the next level of growth,"
said Paul Hooper, Chief Executive Officer of Gigamon. "As a private company, we will continue to
build upon our leading technology foundation and transform the market we created and lead. With our Security Delivery Platform, we are in a unique position to enable NetOps and SecOps teams to work together addressing the common goal of securing
their enterprise while containing costs and minimizing complexity. Working closely with Evergreen, we are entering a new and exciting era".
"This is a landmark transaction for Evergreen and Elliott", said Jesse Cohn, Partner at Elliott. "We are deeply committed to the success of
Gigamon as it continues to innovate and deliver customer value. Gigamon's market-leading platform and position in next-generation infrastructure represents significant potential for the future".
"The IT landscape is being transformed through massive and disruptive change, and partnering with a market-leading organization and world-class
executives to drive this disruption represents a fantastic opportunity", said Isaac Kim, Managing Director of Evergreen Coast Capital. "We are excited to work with Gigamon to accelerate the delivery of innovative new offerings, transform
its
go-to-market
approach and maximize the company's potential".
"We believe Gigamon is well positioned at the crossroads of the secular changes in technology driven by data growth, security, networking and the cloud.
We look forward to maximizing the value of this unique asset for all stakeholders. Our investment marks QIA's ongoing commitment to investing in high quality Technology, Media and Telecommunications assets", said a spokesperson for the
QIA.
The Gigamon portfolio of security and network solutions empowers organizations in financial services, healthcare, high tech and the public sector to
effectively manage, secure and understand all the data in motion across their networks. Gigamon solutions have been deployed by many of the world's leading organizations including 427 of the Fortune 500 and 10 of the top 10 U.S. federal
agencies. Gigamon has more than 2,600 customers today and employs over 750 people across offices globally.
Advisors
Goldman Sachs & Co. LLC is acting as financial advisor to Gigamon and Wilson Sonsini Goodrich & Rosati, Professional Corporation, is acting
as legal advisor. Jefferies Finance LLC is providing financing for Elliott. Jefferies LLC is acting as financial advisor to Elliott and Gibson, Dunn & Crutcher is acting as legal advisor. Bank of America Merrill
Lynch is acting as structuring agent and Macquarie Capital LLC is acting as financial advisor to Evergreen.
About Gigamon
Gigamon
®
provides active visibility into physical and virtual network traffic, enabling stronger
security and superior performance. The Gigamon Visibility Platform and the GigaSECURE
®
Security Delivery Platform, deliver advanced intelligence so that security, network, and application
performance management solutions in enterprise, government, and service provider networks operate more efficiently and effectively. Learn more at
http://www.gigamon.com/
, the
Gigamon blog
or follow Gigamon on
Twitter
,
LinkedIn
or
Facebook
. See What Matters. ™
About Elliott and Evergreen
Elliott Management Corporation manages two multi-strategy investment funds which combined have approximately $34 billion of assets under management. Its
flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations,
funds-of-funds,
high net worth individuals and families, and employees of the firm. This investment is being led by Evergreen Coast Capital, Elliott's Menlo Park
affiliate, which focuses on technology investing.
About Qatar Investment Authority (QIA)
Qatar Investment Authority was founded by the State of Qatar in 2005 following the vision of HH Sheikh Hamad bin Khalifa Al Thani to strengthen the
country's economy by diversifying into new asset classes. Building on the heritage of Qatar investments dating back more than three decades, its growing portfolio of long-term investments help complement the state's huge wealth in natural
resources.
Headquartered in Doha, and now with a subsidiary in New York called QIA Advisory, QIA is structured to operate at the very highest levels of
global investing. As a world class investor, QIA adheres to the strictest financial and commercial disciplines. It has a strong track record of investing in different asset classes, including listed securities, property, alternative assets and
private equity in all the major capital markets as well as the newer emerging markets.
Contacts
Gigamon
Investor Contact:
Jennifer Gianola
+1 (408)
831-4452
Jennifer.Gianola@Gigamon.com
Elliott Management
Media Contact:
Stephen Spruiell
+1 (212)
478-2017
sspruiell@elliottmgmt.com

text: Gigamon

text: Elliott Management

text: Qatar Investment Authority

text: Gigamon Inc.

text: Gigamon

text: Elliott Management

text: Qatar Investment Authority

text: Gigamon

text: Gigamon

text: Gigamon

text: Gigamon

text: Paul Hooper

text: Gigamon

text: Jesse Cohn

text: Gigamon

text: Gigamon

text: Isaac Kim

text: Gigamon

text: Gigamon

text: Gigamon

text: Gigamon

text: Gigamon

text: Goldman Sachs & Co. LLC

text: Gigamon

text: Jefferies Finance LLC

text: Jefferies LLC

text: Gibson, Dunn & Crutcher

text:
Bank of America Merrill
Lynch

text: Macquarie Capital LLC

text: Gigamon

text: Gigamon

text: Gigamon

text: Gigamon

text: Gigamon

text: Elliott Management

text: Qatar Investment Authority

text: Qatar Investment Authority

text: Gigamon

text: Elliott Management


text:
EX-99.1
10
ex99140-57.htm
Ex. 99.1 40-57
EXHIBIT 99.1
18100 Von Karman Avenue
Suite 500
Irvine, CA 92612
949.852.0700
NEWS RELEASE
Contact: Jennifer Schmidt
Phone: 949.333.1721
Email: jschmidt@steadfastcmg.com
STEADFAST INCOME REIT ACQUIRES
FORTY57 APARTMENTS IN LEXINGTON, KENTUCKY
Represents REIT's largest single purchase to-date
IRVINE, Calif., Dec. 27, 2012 - Steadfast Income REIT, Inc. announced today the $52.5 million acquisition of Forty57, a 436-unit garden-style apartment community in Lexington, Ky. The REIT now has invested over $467 million in 25 apartment communities in nine Midwestern and Southern states.
"This is our sixth property in Kentucky, but our first in Lexington", said Ella Shaw Neyland, president of Steadfast Income REIT. "We feel that Lexington occupies an important position in the state's economy and is the financial, retail, healthcare and cultural core of the entire region".
Forty57 was constructed in four phases beginning in 2008 and was completed in 2012. Each phase completed a very successful lease-up and the property is currently 88% occupied. The property consists of 19 three-story residential buildings that offer spacious one-, two- and three-bedroom apartments and townhomes that have average in-place rents of $860.
(more)
The amenity package at Forty57 makes it one of the premier communities in Lexington and offers residents 9-foot ceilings, garages, Roman soaking tubs, washer/dryer connections and contemporary kitchens with black appliances, tile floors, wood cabinetry and stone back splashes. Community amenities include a clubhouse with computer café, Wi-Fi, and coffee bar; two resort-style outdoor pools with sundeck; state of the art fitness and cardio center; a 40-seat movie theatre; a volleyball court and a putting green.
Lexington is a picturesque city that regularly ranks highly among national lists of "Best Places" due in large part to a thriving arts scene that includes a professional orchestra, two ballet companies, professional theatre, several museums and a highly respected opera program at the University of Kentucky. Additionally, Lexington's diverse economy is bolstered by strong tourism with over 450 horse farms in the area, the Keeneland Race Course, the Red Mile and the Kentucky Horse Park.
This is the sixth Kentucky property acquired by Steadfast. Steadfast also owns five apartment communities in Louisville that were purchased in 2011 and 2012. With today's acquisition, the REIT has acquired over 5,600 apartment homes in Illinois, Indiana, Iowa, Kansas, Kentucky, Missouri, Oklahoma, Ohio and Texas.
About Steadfast Income REIT
Steadfast Income REIT is a real estate investment trust that intends to acquire and operate a diverse portfolio of real estate investments focused primarily on the multifamily sector, including stable, income-producing and value-added properties. Steadfast Income REIT is sponsored by Steadfast REIT Investments, LLC, an affiliate of Steadfast Companies, an Orange County, Calif.-based group of affiliated real estate investment companies that acquire, develop and manage real estate in the U.S. and Mexico.
This release contains certain forward-looking statements. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this release. Such factors include those described in the Risk Factors sections of Steadfast Income REIT, Inc.'s annual report on Form 10-K and other reports filed with the Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and the company undertakes no obligation to update any such statements that may become untrue because of subsequent events. Such forward-looking statements are subject to the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
###

text: STEADFAST INCOME REIT

text: REIT

text: Steadfast Income REIT, Inc.

text: REIT

text: Ella Shaw Neyland

text: Steadfast Income REIT

text: Steadfast

text: Steadfast

text: REIT

text: Steadfast Income REIT

text: Steadfast Income REIT

text: Steadfast Income REIT

text: Steadfast

text: REIT

text: Steadfast

text: Steadfast Income REIT, Inc.


text:
EX-99.1
2
a13-18941_1ex99d1.htm
EX-99.1
Exhibit 99.1
Contacts:
George E. McHenry
(512) 777-3800
Russell G. Allen
(512) 777-3800
HANGER ANNOUNCES 2013 YEAR-TO-DATE ACQUISITIONS TOTALING
$10 MILLION OF ANNUALIZED NET REVENUE
Austin, Texas, August 19, 2013 /PRNewswire/ -
Hanger, Inc. (NYSE: HGR) today announced that in 2013 year-to-date it has completed the acquisition of four patient care companies comprised of nine clinics in six states with annualized revenue of approximately $10 million. The acquisitions are East Coast Orthotics, Inc.; Nascott, Inc.; Keller's Limb & Brace, Inc. dba Snell's of Jackson; and Development & Research, Inc., dba San Juan P&O.
"We are pleased to welcome these great companies and their over 60 dedicated clinicians and staff to the Hanger team", commented Vinit K. Asar, President and CEO of Hanger. "We are half way to meeting our 2013 goal to acquire annualized sales of approximately $20 million. Our pipeline of transactions remains healthy".
About Hanger, Inc.
- Built on the legacy of James Edward Hanger, the first amputee of the American Civil War, Hanger, Inc. (NYSE: HGR) delivers orthotic and prosthetic (O&P) patient care, and distributes O&P products and rehabilitative solutions to the broader market. Hanger's Patient Care segment is the largest owner and operator of O&P patient care clinics with in excess of 730 locations nationwide. Through its Products & Services segment, Hanger distributes branded and private label O&P devices, products and components, and provides rehabilitative solutions. Steeped in over 150 years of clinical excellence and innovation, Hanger's vision is to be the partner of choice for products and services that enhance human physical capability. For more information on Hanger, visit www.hanger.com and follow us at www.Facebook.com/HangerNews, www.Twitter.com/HangerNews, and www.YouTube.com/HangerNews.
This document contains forward-looking statements relating to the Company's results of operations. The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. Statements relating to future results of operations in this document reflect the current views of management. However, various risks, uncertainties and contingencies could cause actual results or performance to differ materially from those expressed in, or implied by, these statements, including the Company's ability to enter into and derive benefits from managed care contracts, the demand for the Company's orthotic and prosthetic services and products, the impact of reviews, audits and investigations conducted from time to time by governmental agencies, and the other factors identified in Item 1A, "Risk Factors" in the Company's periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.
1

text: HANGER

text: Hanger, Inc.

text: East Coast Orthotics, Inc.

text: Nascott, Inc.

text: Keller's Limb & Brace, Inc.

text: Development & Research, Inc.

text: Hanger

text: Vinit K. Asar

text: Hanger

text: Hanger, Inc.

text: Hanger

text: Hanger, Inc.

text: Hanger

text: Hanger

text: Hanger

text: Hanger


text:
EX-99.1
3
ex99_1.htm
EXHIBIT 99.1
Exhibit 99.1
FFI
COMPLETES PEO ACQUISITION
INDIANAPOLIS,
INDIANA - April 16, 2007 - Fortune Industries, Inc. (AMEX:FFI)
announces that it has completed its acquisition of Employer Solutions Group
(ESG) of Salt Lake City, Utah.
This
is
the second PEO acquisition in the past 90 days by Fortune Industries.
ESG
is a
full service Professional Employer Organization (PEO) servicing small to
mid-size businesses in the Salt Lake City and Loveland/Denver metropolitan
markets. ESG provides human resource management services to approximately 375
clients and 6,700 worksite employees. Services include payroll and benefits
administration, health and workers' compensation insurance management, human
resource management and consulting, training, testing, development and
assessment services and insurance brokerage services. ESG will retain its local
headquarters in Salt Lake City and regional office in Loveland, Colorado.
"This
acquisition affirms our strategy of redeploying cash flows, created by our
recent cost reduction initiatives within certain other segments of our company,
to acquiring PEO's", stated John Fisbeck, CEO. "The acquisition of ESG
strengthens our position as one of the leading PEO providers in the nation
and
increases our total PEO worksite employees to approximately 16,000 participants
and annual payroll to over $640 million".
Mr.
Fisbeck commented, "Projected consolidated revenue for Fortune Industries is in
excess of $200 million for our fiscal year 2008, which begins September 1,
2007.
Our PEO segment revenue is estimated at $110 to $130 million or 55%-65% of
consolidated revenue".
"With
this acquisition we have the opportunity to create significant economies of
scale through vendor discounts, diversification of risk pools, and increases
in
technological offerings", continued Fisbeck. "This will allow us to capture a
larger percentage of this rapidly expanding market, with current historical
annual growth rates of 20%".
Fisbeck
further stated, "Based on several valuation models, taking our PEO segment by
itself, our stock is significantly undervalued in the marketplace today as
compared to our PEO peers. We will evaluate a spin-off of our PEO segment into
a
separate public company as one option to realize value for our
shareholders".
The
transaction value of $11.2 million will be paid in stock and cash. Capital
Alliance Group served as the broker of record. Cash of $9.1 million will be
financed out of the Company's existing line of credit. A portion of the stock is
subject to future earning contingencies.
About
Fortune Industries, Inc.
Fortune
Industries, Inc. operates as a technology-based service company in the United
States. It provides technology solutions to businesses in five segments:
Wireless Infrastructure, Business Solutions, Transportation Infrastructure,
Ultraviolet Technologies and Electronics Integration. The Wireless
Infrastructure segment provides turnkey solutions directly to wireless carriers
in 20 states and provides other specialty infrastructure services. The Business
Solutions segment provides professional employment organization (PEO) services
to small and medium sized businesses with up to 1,000 employees in over 44
states including human resource consulting & management, employee
assessment, training, and benefits administration. The Transportation
Infrastructure segment provides the installation of highway safety products
and
commercial structural steel. The Ultraviolet Technologies segment provides
worldwide state-of-the-art UV ink technology solutions. The Electronics
Integration segment provides sales and installation of commercial electronics.
Fortune
Industries is based in Indianapolis, Indiana and is publicly traded on the
American Stock Exchange under the symbol FFI. Additional information about
Fortune Industries, Inc. can be found at www.ffi.net.
This
press release and other statements by Fortune Industries, Inc. may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are typically
identified by words or phrases such as "believe", "expect", "estimate",
"potential", or future/conditional verbs such as "will", "should", and "could"
or the negative of those terms or other variations of them or by comparable
terminology. The absence of such terms, however, does not mean that the
statement is not forward-looking. Any such forward-looking statements are not
guarantees of future performance and involve risks and uncertainties that could
cause actual results to differ materially. Factors that might cause or
contribute to such differences, include, but are not limited to, the risks
and
uncertainties that are discussed under the heading "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" within the Company's Form 10-K for the year ended August 31, 2006.
The Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Readers should carefully review the risk factors disclosed
within the Company's Form 10-K and other documents filed by the Company with the
Securities and Exchange Commission.
Contact
Fortune
Industries, Inc.
Amy
Gallo, Chief Financial Officer
(317)
532-1374

text: FFI

text: Fortune Industries, Inc.

text: FFI

text: Employer Solutions Group

text: ESG

text: Fortune Industries

text: ESG

text: ESG

text: ESG

text: John Fisbeck

text: ESG

text: Fortune Industries

text: Fortune Industries, Inc.

text:
Fortune
Industries, Inc.

text:
Fortune
Industries

text: FFI

text: Fortune Industries, Inc.

text: Fortune Industries, Inc.

text:
Fortune
Industries, Inc.

text:
Amy
Gallo