News:
12/09 08:23
OneSource Acquires NETExpress Inc.
Company Gains Network Expertise OneSource Acquires NETExpress Inc.; Company Gains Network Expertise and Foundation for Future Growth
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Dec. 9, 1999--OneSource Technologies Inc., (Electronic Quotation System (OSTK) Thursday announced the completion of its acquisition of NETExpress Inc., ("NETExpress"), a Phoenix-based network integration company, in an all-stock transaction which represents the initial acquisition roll-up portion of OneSource's aggressive business growth strategy. NETExpress, although a small company, brings significant technical competence and industry-certified Novell (NASDAQ: NOVL) and Microsoft (NASDAQ: MSFT) network engineers to OneSource's Arizona and southern Nevada territory. NETExpress realized $200,000 in 1998 revenues and $20,000 in 1998 income.
NETExpress will operate as a wholly-owned subsidiary and will be an ideal foundation for the future acquisition of other network integration companies as OneSource continues to expand this area of its business. Expansion into the network integration market is a key company strategy to not only build new sources of revenue, but also to create additional sales opportunities for the company's core business of office equipment service and maintenance.
Further, as work processes become more and more digitized, standard office equipment is being integrated into corporate local area networks (LANs) and wide area networks (WANs). The integration of certified network professionals through the NETExpress acquisition will aid in OneSource's ability to satisfy the maintenance requirements of organizations with networked office equipment.
OneSource is a leader in the general office and industry specific equipment maintenance and service industry and the inventor of the unique OneSource Flat-Rate Blanket Maintenance System(TM). This innovative service program provides customers with a single source for all general office, computer and peripheral and industry specific equipment maintenance.
This customer customized service approach delivers substantially higher equipment service quality and does so at costs significantly lower than traditionally required.
Information herein was derived from sources seeming to be reliable. No assurance can be made that the information is accurate, or that projected results will be achieved. Statements in this release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Act of 1995. Investors are cautioned that like forward looking statements, certain risks and uncertainties are involved, including without limitation, continued acceptance of the company's services, increased levels of competition for the company and dependence on the performance of the management of the company.
SOURCE: OneSource Technologies Inc.
For More Information Contact:
Don Gause
OneSource Technologies Inc.
7419 East Helm Drive
Scottsdale, AZ 85260
480/889-1177 Fax: 480/889-1166
mailto:Invest1sourcetech.com
OneSource Technologies and Flat-Rate Blanket Maintenance System are trademarks of OneSource Technologies Inc. Some of the product names mentioned herein are for identification purposes and may be trademarks or registered trademarks of their respective companies.
SOURCE: OneSource Technologies Inc.
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CONTACT: OneSource Technologies Inc., Scottsdale
Don Gause, 480/889-1177
Fax: 480/889-1166 |
