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Thursday September 6, 6:30 am Eastern Time
Press Release
SOURCE: Category 5 Technologies, Inc.
Category 5 Technologies, Inc. Enters Into Agreement to Acquire Transaxis, S.A.
SALT LAKE CITY, Sept. 6 /PRNewswire/ -- Category 5 Technologies, Inc. (OTC Bulletin Board: CFVT - news), a leading provider of marketing tools and commerce enabling technologies for small to medium sized businesses, today announced it has entered into an agreement to acquire Transaxis, S.A., a Swiss Company with offices in Geneva, Switzerland and London, England. Transaxis provides payment processing solutions to merchants and financial institutions in England and Western Europe. Terms of the transaction were not disclosed.
``We have been looking for the right partner with whom to enter England and Europe,'' said William Gibbs, Chief Executive Officer of Category 5, ``and the management team and contractual relationships that Transaxis has assembled, along with the significant financial, technology and marketing synergies with our company, make this acquisition a great opportunity for Category 5.'' The acquisition should enable Category 5 to offer its products and services to businesses and financial institutions internationally.
``Our sales and marketing channel, which has been very successful in the United States, can now be extended into Europe,'' said Mitchell Edwards, President of Category 5. ``Upon closing this transaction, we intend to immediately integrate the stellar Transaxis management team into our vision of becoming an International leader in providing IP-based products and services to merchants and financial institutions. As we complete our due diligence and close the transaction, we plan to make further announcements regarding this transaction.'' Transaxis offers merchants and financial institutions a gateway to sophisticated payment processing solutions and fraud detection and prevention.
About Category 5 Technologies
Category 5 Technologies is a leader in using technology to make small and medium-sized businesses more efficient in their marketing and profitable in their operations. The Company provides marketing tools and commerce enabling technology and services to small- and medium-sized businesses in the United States and internationally. From e-commerce platforms, web sites, shopping carts, merchant accounts and payment plug-ins, to communications and promotions tools, Category 5 enables both brick and mortar as well as Internet businesses to operate more efficiently and profitably, and to gain and retain new customers. Category 5 continues to seek synergistic companies, technologies and platforms for acquisition.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements regarding Category 5's confidence in upcoming financial periods, market acceptance of our products and services, continued success in our business expansion initiatives, and progress toward its long term financial model. These statements reflect management's current expectations. However, actual results could differ materially as a result of unknown risks and uncertainties, including but not limited to, risks related to Category 5's limited operating history. For a more detailed description of these and other risks and uncertainties affecting Category 5's performance, please refer to the Company's recent amended 8-K dated August 10, 2001. Category 5 assumes no obligation to update the forward-looking information contained in this press release.
SOURCE: Category 5 Technologies, Inc. |
