NEET - NetCommerce Reports Progress Regarding the Acquisition of NewData Strategies
Business & High Tech Editors
DALLAS--(BUSINESS WIRE)--Feb. 20, 2001--NetCommerce, Inc., (OTCBB:
NEET) (www.neetstock.com), NetCommerce Inc. reports progress regarding
intent to acquire Dallas based NewData Strategies, Inc. The combined
entity would have annual revenue of approximately $13 million. The
acquisition will equip NetCommerce to generate new revenue streams by
providing its existing clientele with fully integrated,
Internet-based, technical solutions. Founded in 1990, NewData
Strategies, Inc. (www.newdata.com) is a full service Microsoft
Certified Solution Provider & Partner (MSP-Partner)
(www.Microsoft.com)(Nasdaq: MSFT, news, msgs) and Microsoft Certified
Technical Education Center (CTEC).
Since the announcement of this transaction in November 2000, the
two companies have been working together to reach a definitive
agreement and a plan to implement these services with NetCommerce's
existing clientele.
"We have made significant progress in this transaction and we are
very impressed with NDS's capabilities. We have the audit team in
place and should have all of the required financial documentation
completed within the next three weeks," stated Donald W Prosser Chief
Financial Officer, NetCommerce, Inc.
This acquisition will allow NetCommerce to deliver applied
solutions to its existing clients that have the security, scalability
and dependability needed for an organization to run its operations
effectively and efficiently.
"NewData Strategies has been building packaged solutions for
shopping carts and ecommerce applications for several NetCommerce
clients. We believe that our Microsoft Site Server and Commerce Server
applications are ideally suited for the small to medium sized business
enterprises. We are very excited about the possibilities of providing
these services to the European market and we have scheduled a series
of meetings in Europe, beginning in March, to provide these same
services to Commodore Web Design," stated Kirk Hullison, CEO, NewData
Strategies.
The Company views this merger as part of its reorganization and
cost cutting efforts and will help them better meet the needs of the
changing technology markets.
This press release may contain forward-looking statements relating
to the future performance of NetCommerce, Inc. Forward-looking
statements, specifically those concerning future performance are
subject to certain risks and uncertainties, and actual results may
differ materially from expectations. These risks and uncertainties
include the uncertainty associated with the timing and magnitude of
the company's revenues, the risks associated with profitably competing
for market share and other risk factors detailed from time-to-time in
the Company's filings with the Securities and Exchange Commission
(SEC), including the Company's Annual Report on Form 10-K, Forms 10-Q,
and other filings and releases.
(c) 2000 NetCommerce, Inc. All Rights Reserved.
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CONTACT: NetCommerce, Inc.
Investor Relations Office
949/833-2094 ext. 723 |
