The anticipated news is here!
MANASSAS, Va.--(BUSINESS WIRE)--Nov. 9, 1999--In accordance with its growth and expansion plans, PACEL Corp. (NASD, OTC BB:PLRP - news news), the Manassas-based company which provides high-value software technology solutions enabling clients to take advantage of rapidly changing opportunities within the global market, has acquired Fairfax Communications Limited (FCL), a UK-based information systems and technology solution provider, it was announced by David Calkins, President of PACEL.
FCL, headquartered in Plymouth, England, provides consulting services and solutions to military and government clients worldwide. It also offers solutions to year 2000 compliance problems and general consulting services in all areas of information technology and systems integration to the general business community.
``The acquisition of FCL enables PACEL to reach across the Atlantic to explore new business opportunities in the vast European market,' said Calkins. ``At a time when we are looking to grow and expand our horizons, the opportunity to acquire an established software technology company was too good to pass up. The combination of our creative assets and expertise with those provided by Fairfax Communications, makes PACEL a much stronger company in the U.S. and opens the door to countless new business opportunities in Europe and elsewhere around the globe.'
FCL was a wholly owned subsidiary of Advanced Communications Systems, Inc., in Fairfax, VA. PACEL acquired all of the stock of FCL for an undisclosed amount of cash. The exact purchase terms and amount remain confidential in accordance with the contract.
``We expect the acquisition of Fairfax Communications to have a substantive impact on the financial assets of PACEL,' Calkins noted. ``With the completion of this acquisition, we become a player in the global market.'
FCL has established a Quality Management Program, which provides high quality products and services to its clients. The system is structured to comply with the internationally recognized BS EN ISO 9001:1994 under the TickiT guidelines, for which the company has received registration.
FCL is also a Microsoft Authorized Education Reseller (AER) allowing customers to receive their academic software more quickly with the knowledge that they are receiving legitimate Microsoft Academic Edition products.
In recent weeks, PACEL has doubled the size of its staff and work area, signed a contract with Child Watch of North America and went on-line with its new E-BUSINESS-STOR.COM (EBSTOR.com), which provides a number of internet services, including web page, e-commerce and database design, maintenance and hosting.
To increase our investors awareness, we have now employed Tony Tomasso, Wall Street Concepts for additional public relations and investor relations.
Forward-looking statements in this release are made pursuant to the ``safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertain ties, including without limitation, continued acceptance of the company's products, competition, new products and technological changes, intellectual property rights and other risks.
For more information, please visit the PACEL Corp. website at www.pacel.com
Contact:
PACEL Corp., Manassas
Investors:
Wall Street Concepts Group
Tony Tomasso, 281/494-9080
or
Press:
L.S. Public Relations, Inc.
Les Schecter, 212/586-2600 |
