ZMAX Retains Pennsylvania Merchant Group for Investment Banking, M&A, and Strategic Planning Services
GERMANTOWN, Md.--(BUSINESS WIRE)--Sept. 22, 1999--ZMAX Corporation (NASDAQ:ZMAX - news) today announced that it has retained the Pennsylvania Merchant Group (PMG) as its financial advisor to provide investment banking services, identify and evaluate potential acquisition candidates for the Company, and provide strategic planning support.
``As we continue to execute an aggressive growth plan to build our depth and breadth in information technology services, it's clear that an investment banker will extend our capabilities and allow us to move even more rapidly,' says Michael C. Higgins, president and chief executive officer.
PMG will support the Company in identifying and reviewing companies to complement its existing information technology services in e-business, enterprise resource planning, strategy and implementation, and client server development.
The investment banker also will support ZMAX in the valuation and structure of any transaction, as well as assist the Company, as necessary, with obtaining financing for certain acquisitions. The term of the agreement extends through August 2001.
According to James T. McCubbin, vice president and chief financial officer, ``We believe that PMG's expertise in working with micro- and small-cap emerging technology companies will be extremely useful as we accelerate our acquisition program and increase our visibility with the investment community.'
PMG is an international investment banking firm specializing in high technology and emerging growth companies. PMG brings to bear a unique blend of operational, analytical, financial and strategic consulting experience specifically focused on high-technology companies at early to mid development stages and spanning a multitude of industry segments.
Headquartered in Germantown, Maryland, ZMAX Corporation is an information technology consulting firm. The Company's IT services include e-business, enterprise resource planning, strategy and implementation, client server development, and Year 2000 software and services.
Statements made in this press release that are not historical or current facts are ``forward looking statements' made pursuant to the safe harbor provisions of federal securities laws.
Forward looking statements represent management's best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected.
These factors and others are discussed in the ``Management Discussion and Analysis' section of ZMAX's Annual Report on Form 10-K for the fiscal year ended December 31, 1998, to which reference should be made.
ZMAX CORPORATION is quoted on the NASDAQ Small Cap exchange under the symbol of ``ZMAX' and on the Frankfurt and Berlin Stock Exchanges under the symbol of ``ZMX'
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