SW, My POWs: CHTR, DSLN, ECCS, FFTI, TWTC, YARC
On YARC:
YARC Secures Funding for Merger and Acquisition Program
CAMARILLO, Calif.--(BUSINESS WIRE)--Dec. 5, 1999--YARC Systems Corporation (OTC BB:YARC) today announced that it has closed a financing which will provide a ten million dollar ($10,000,000) credit facility to expand YARC's merger and acquisition activities.
The funding is non-dilutive, being in the form of an interest-only loan.
It is expected that all funds will be in-hand by December 23, 1999.
"The printing industry is undergoing significant consolidation," commented Dr Trevor Marshall, YARC's Chairman and CEO. "This funding will enable YARC to aggressively achieve critical mass in those technologies which will be essential to the printshop of the future. The printing industry is fast becoming geographically diverse, reliant on the Internet not just for file transmission, but also for training and customer support. Over the last three years YARC has been developing LINUX solutions for Internet based printing, and we are currently the only color server manufacturer which can provide complete remote technical assistance and problem diagnosis over the Internet." (also see press release dated 11 Jan 1999 at yarc.com )
YARC's LINUX Color server on the Internet is at yarcxp.com.
Part of the funding will be used to grow YARC's first acquisition, Quality Photographic Imaging, who specialize in the emerging market for spectacular 3-Dimensional versions of the signage used at the Point Of Sale (POS) in retail environments such as Restaurants, Vending Machines, and Department Stores. The total size of the market for POS signage in 1998 was 13.7 Billion dollars. The 3-D formats are currently a small, but growing, fraction of that market.
The remainder of the funding will be used to complete other acquisitions YARC has identified within the printing industry. Emphasis is being placed on targets with good revenue flows and Internet-related growth potential. Special attention is being paid to those companies where YARC's technologies can be used to improve profitability.
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