Thursday June 17, 11:04 am Eastern Time
Company Press Release
SOURCE: Miami Computer Supply Corporation
Miami Computer Supply Corporation Announces the Signing and Closing of a Definitive Merger Agreement with Audio Visual Systems, Inc.
DAYTON, Ohio, June 17 /PRNewswire/ -- Miami Computer Supply Corporation (Nasdaq: MCSC - news), today announced the signing and closing of a definitive merger agreement with Audio Visual Systems, Inc. (''AVS''), a $9 million revenues integrator of audio-visual presentation products, headquartered in Dayton, Ohio.
Mr. Peppel, President and Chief Executive Officer said, ''We are pleased to close this transaction with one of the leading presentation products integrators in the country. Jack Culp is well known and respected within the Audio Visual Industry with over 30 years of experience. Audio Visual Systems, Inc.'s, integration expertise moves MCSC further into this aspect of our business model with significant opportunities to leverage our midwest customer base.''
''The strength of the combination of Audio Visual Systems, Inc. with Miami Computer Supply Corporation is the manner in which each company complements the other. MCSC has a strong sales team with excellent market penetration. Audio Visual Systems, Inc. has a strong team of technical people in presentation system design and installation and event staging. We are looking forward to joining the premier player in our space,'' said Jack Culp, President of Audio Visual Systems, Inc.
Miami Computer Supply Corporation is a distributor of computer and office automation supplies and accessories and of audio-visual presentation products throughout the United States, Canada and in certain foreign countries. Miami Computer Supply Corporation distributes over 1,800 core products primarily to middle-market and smaller companies and to governmental, educational, and institutional customers, including federal, state and local governmental agencies, universities and hospitals and, to a lesser extent, to computer supply dealers. MCSC primarily sells nationally known, name-brand products manufactured by approximately 500 original equipment manufacturers, including Hewlett-Packard, Lexmark, Imation and Canon for computer supplies, and Sharp, Epson, Infocus, Sony and Proxima for audio-visual presentation products. Additional information regarding MCSC can be obtained at mcsinet.com.
The matters discussed in this press release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of MCSC, the occurrence of which involve risks and uncertainties which include, but are not limited to, general economic conditions, industry trends, functionality of hardware and software, actions of competitors, MCSC's ability to manage its growth, factors relating to its acquisition/merger strategy, actions of regulatory authorities, restrictions imposed by its debt arrangements, dependence upon key personnel, dependence upon key suppliers, customer demand, risks relating to international operations, dependence on its computer systems and other factors. A complete description of those factors, as well as other factors which could affect MCSC's business, is set forth in MCSC's Form 10-K for the year ended December 31, 1998, and Form 10-Q for the 3 months ended March 31, 1999.
SOURCE: Miami Computer Supply Corporation |
