EBTB ==>> in the news again today!
biz.yahoo.com
>>eB2B Completes Acquisition of Bac-Tech Systems, Inc.
Accretive Transaction Strengthens Market Position
NEW YORK, Jan. 3, 2002 (PRIMEZONE) -- eB2B, Inc. (Nasdaq:EBTB - news), a leading provider of business-to-business transaction management services, announced today that it has acquired New York-based Bac-Tech Systems, Inc. Bac-Tech offers comprehensive EDI and Web-based services to a growing portfolio of nationally known suppliers, including O-Cedar Brands, Peregrine Outfitters, Schott Glass and Ross Products, a division of Abbott Labs. The transaction broadens eB2B's customer base and distribution channels, leverages eB2B's revenue model and adds depth to eB2B's management team.
The transaction was structured as a merger, with Bac-Tech's principals receiving $250,000 cash at closing and 8 million shares of common stock and common stock equivalents. Additionally, the principals received notes in the aggregate amount of $600,000 payable in equal installments in 2003, 2004 and 2005 and may earn a $200,000 performance-based payment in 2002. Both principals have signed three-year employment agreements with the company.<<
Looks like they got somethin' for not too much! I think they are a survivor. Continuing to hold for a run (starting anytime soon imho)
SR |
