Friday August 6, 10:31 am Eastern Time
Company Press Release
SOURCE: Miami Computer Supply Corporation
Miami Computer Supply Corporation Announces the Signing of a Definitive Merger Agreement with Technical Industries, Inc.
DAYTON, Ohio, Aug. 6 /PRNewswire/ -- Miami Computer Supply Corporation (Nasdaq: MCSC - news), today announced the signing of a definitive merger agreement with Technical Industries, Inc. (``TII'), a $33 million revenues integrator of audio-visual presentation products, headquartered in Atlanta, Georgia, with offices in Birmingham, Alabama and Nashville, Tennessee.
``Ed Matthews and Sonny Davis have built Technical Industries into one of the premier audio-visual integrators in the country,' said Michael E. Peppel, President and Chief Executive Officer of Miami Computer Supply Corporation. ``This transaction will greatly expand our market presence in the Southeast. The combination of MCSI with Technical Industries, Inc. provides a solid base of revenue and talent to grow our market share in Atlanta and the surrounding states. We continue to expand our geographic reach in the audio-visual channel and continue to enhance our North American presence.'
``By aligning ourselves with the foremost publicly traded company in our industry, we gain access to the national and international markets that will prove to be a major benefit to our customers and employees,' said Sonny Davis, President of Technical Industries, Inc.
Miami Computer Supply Corporation is a distributor and integrator 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 |
