con-o-log buys a company run by Tony Natoli, what a name, right out of Sopranos!
--------------------
Conolog Signs Letter of Intent to Acquire Independent Computer
4/27/0 15:15 (New York)
Maintenance Corporation; Acquisition
Expected to Add $2.0 Million to Conolog Revenues in 2001
Business/Technology Editors
SOMERVILLE, N.J.--(BUSINESS WIRE)--April 27, 2000--Conolog
Corporation (NASDAQ: CNLG, CNLGW), an engineering and design company
that provides digital signal processing solutions (DSP), announced
today that it has signed a letter of intent to acquire Independent
Computer Maintenance Corporation, located in Clifton, New Jersey, for
a combination of cash and stock. Details of the proposed transaction
were not disclosed.
The closing of the proposed transaction is conditioned upon, among
other things, the execution of an Agreement of Purchase by the
parties, Conolog's completion of its due diligence review of
Independent Computer Maintenance Corporation, the completion of
audited financial statements of Independent Computer Maintenance
Corporation, and approval of the transaction by Conolog's Board of
Directors.
Independent Computer Maintenance Corporation provides
installation, maintenance and troubleshooting of commercial and
corporate computer systems and networks in the greater New York
metropolitan area. Its projected revenues for fiscal 2001 are $2.0
million.
Robert Benou, Conolog's president, commented, "The acquisition of
Independent Computer Maintenance Corp will add tremendous value to our
client services. We will gain the resources we need to provide
superior installation, maintenance and support of our systems to new
customers and our existing client base."
Anthony Natoli, president of Independent Computer Maintenance
Corporation, stated, "We look forward to becoming part of the Conolog
corporate family, and to bringing our very specialized capabilities to
a broader pool of clients."
Conolog Corporation is an engineering and design company primarily
engaged in providing engineering and technical personnel, and
manufacturing a line of digital signal processing systems, including
transmitters, receivers and multiplexers, under the INIVEN trade name.
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 uncertainties, including, without
limitation, continued acceptance of the Company's products, increased
levels of competition, new products introduced by competitors, and
other risks detailed from time to time in the Company's periodic
reports filed with the Securities and Exchange Commission.
--30--es/bos*
CONTACT: National Financial Network
Robert Weiss
781-444-6100 x.11
or
Conolog Corporation
Robert Benou
908-722-8081
KEYWORD: NEW JERSEY MASSACHUSETTS
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS HARDWARE INTERNET
SOFTWARE TELECOMMUNICATIONS MERGERS/ACQ
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
-0- Apr/27/2000 15:00
EOS (BUS) Apr/27/2000 15:00 85
-0- (BUS) Apr/27/2000 15:15 |
