Chronicle Communications, Inc. Announces It has Purchased ETA
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Chronicle Communications, Inc. Announces It has Purchased ETA Internet Solutions, Inc.
TAMPA, Fla.--(BUSINESS WIRE)--March 17, 2000--Chronicle Communications Inc., (OTCBB:CRNC), (http://www.chronicleinc.com) announced Friday it has acquired through a newly formed subsidiary, the assets and business of ETA Internet Solutions, Inc. (http://www.etais.com). Dale Mulert and John Terrace, two principals of ETAIS, have entered into employment agreements with the newly formed Internet Solutions subsidiary of Chronicle Communications, Inc. ETAIS brings 10 new employees to Chronicle including expertise in ColdFusion(R), JAVA, Macromedia(R) Products, Microsoft SQL Server(R), Microsoft(R) Active Server Page(R) (ASP) project management and sales.
ETAIS has positioned itself as web-integration experts with certifications from Microsoft(R), Alcotel, Citrix Systems, Inc., Santa Cruz Operations (SCO), Checkpoint, and Allaire. ETAIS has brought together a strong web-integration staff with database administrators, project managers, high-end ColdFusion(R) developers and programmers in addition to the graphics team for complete web development for its clients.
Through the use of the latest technologies ETAIS provides the right tools for the job. ETAIS is the sole provider for Tarantella, a proprietary software product by SCO, in the state of Florida. Tarantella acts as a common denominator between computer systems and the Internet. A business can deliver information directly to the end user via the Internet without re-writing the original software using Tarantella.
ColdFusion(R) custom applications for the Internet are the fastest way to deliver custom, scalable applications to the Internet using and integrating browsers, servers, database and accounting systems information. ColdFusion(R) is middleware, and offers the ability to push and pull information from multiple geographic locations and multiple computing platforms into a common user interface on the Internet.
ETA's client list include, United Space Alliance, Time Warner Telecom, Inc., Lykes Insurance, Inc., The United Way of Pinellas County Florida, ABR-Ceridian Benefits, Maxxum Medical, and the United States Department of The Navy, Pensacola, Florida.
"This acquisition validates our commitment to Internet technology and forges a foundation from which to expand our business plan and capture market share. ETAIS brings a proven track record of successful back end' programming and web development critical for the customer who is serious in establishing a dominate presence in today's expanding world of Internet business applications. Our front-end graphics expertise combined with ETAIS allows Chronicle to compete for high-end web development business with the advantage of in-house hardware/software sales & service, training and printing of collateral materials critical in our clients' marketing efforts.
We have assembled a team that can completely customize any client's Internet requirements no matter how large or small. The acquisition of ETAIS firmly places Chronicle in the Technology game," said John V. Whitman Jr., Chronicle CEO.
Dale Mulert, formerly President of Red Design and Project Manager of Ad Max Inc., offers a wide range of expertise necessary for the day to day technical challenges of ETAIS. Mr. Mulert has certifications in Citrix Systems, Inc., "CCA", Checkpoint, Inc. "CCSE" and "CCSA" and working knowledge of Local and Wide Area Networks and Internet hosting protocols.
Mr. Mulert is the President of the Cold Fusion(R) users group for the Tampa Bay area. Mr. Mulert's combination of software certifications, high level database programming, custom software application development and project management make him the perfect match for the complicated requirement needed to execute the daily requirement for ETAIS.
John Terrace has been with ETAIS since June 1999 and has over 15 years experience in system integration. Mr. Terrace has previously held positions in the Technology Management Services Division for Dataflex Computer Corp., where his primary responsibility was to increase system integration sales for the Tampa and Orlando branch offices. During his tenure at Dataflex Computer Corp., Mr. Terrace procured and managed projects for companies such as Nielsen Media Research, Home Shopping Network, and Disney Cruise Lines to name a few.
Other positions include Business Development Manager for TK Information Services and Senior Systems Consultant for American Semiconductor, Inc.
As consideration for the acquisition, Chronicle issued 111,111 shares of its common stock, paid down approximately $175,000 in ETAIS's liabilities and assumed approximately $65,000 of ETAIS's liabilities. Assets acquired are valued at approximately $120,000 not including value, which may be assigned to ongoing business operations.
Special Note: Management believes certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management's views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ from those expressed or implied. Such differences may result from actions taken by the company prior to its current fiscal year end, as well as from developments beyond the company's control, including changes in global economic conditions that may, among other things, affect the performance of the company's anticipated acquisitions or future business. In addition, changes in domestic competitive and economic conditions may also affect performance of all significant company businesses |
