PRIM has acquisition news:
SALT LAKE CITY, Aug. 5 /PRNewswire/ -- PrimeHoldings.com, Inc. (OTC Bulletin Board: PRIM - news), today
announced that it has acquired the operating assets of Intelisys, a former strategic business partner and developer of key data
extraction and information processing technology used to prepare and publish information to the Internet and other data
platforms. The agreement also grants PrimeHoldings.com an exclusive license to all Intelisys technology for use in the forms
processing industry. Further terms of the agreement were not disclosed.
Company officials said the acquired assets would be merged into wholly owned subsidiary PrimeSourceNet
(http://www.primesourcenet.com) to form a new company called Navilor(TM), Inc. which will focus on providing forms
processing and data management services for large corporations and other major organizations. The acquisition also brings key
customer relationships to Navilor, which combined are expected to more than double revenues over the next 12 months.
According to a recent report from Gartner Group and AIIM International, the document technologies industry is expected to
grow from $13.2 billion in 1998 to $41.6 billion in 2003. As demand for document processing technologies grows, so will
demand for leading technologies and services such as those from Navilor, which are necessary for converting and capturing
paper-based information for electronic use.
PrimeHoldings.com President and CEO Thomas E. Aliprandi welcomed the acquisition saying it would give Navilor
much-needed control over the future development and use of the extraction technology and a strong revenue stream that would
enable the company to pursue additional expansion activities. ''Intelisys developed much of the technology behind the
PrimeSourceNet forms processing solution giving Navilor a strong entry in this competitive space. This acquisition gives us the
flexibility we need to customize and further develop the technology to continue serving the specific needs of our growing client
base,'' he said.
About PrimeHoldings.com, Inc.
PrimeHoldings.com, Inc. (OTC Bulletin Board: PRIM, formerly PrimeSource Communications Holdings, Inc. traded under
OTC Bulletin Board: PSCM) develops and operates Internet-based and Internet-related technology companies that together
form a community focused on business intelligence and electronic commerce. Current PrimeHoldings.com companies include:
bCard.net, a leader in smart card technologies; Navilor, a leader in automated forms processing services: eROI, a cutting-edge
provider of technology for evaluating hard-to-measure business processes such as training and UniQuest Communications, a
top agency of telecommunications reseller UniDial, Inc. For more information call 801-562-1444 or visit
www.primeholdings.com.
This news release may include statements which constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Please be cautioned that any such forward-looking statements are not guarantees of
future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the
forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's
disclosure documents.
Trademark Notice: All trademarks named above are the property of their respective holders.
SOURCE: PrimeHoldings.com, Inc.
More Quotes
and News:
PSCM - news
PRIMEHOLDINGS (OTC BB:PRIM - news)
Related News Categories: computers, internet |
