Monday August 4 9:11 AM EDT
Company Press Release
Source: Pacific Aerospace & Electronics, Inc.
Pacific Aerospace and Electronics Announces Proposed Additions to
Information Technology Group
WENATCHEE, Wash., Aug. 4 /PRNewswire/ -- Pacific Aerospace & Electronics, Inc. (Nasdaq: PCTH and PCTHW)
announced this morning that it has signed letters of intent with two additional companies for its newly formed Information
Technology Group. The additions are MONITRx, Inc., of Larkspur, California, and Quantum Interlink Internet, Inc. of
Provo, Utah. The Company previously announced that it had signed letters of intent to acquire Brigadoon.com, Inc. of
Bellevue, Washington, and Market Visibility, Inc. of New York City, and a letter of intent to purchase common stock to be
issued by Jungle Street, Inc. of Everett, Washington. All of the transactions are subject to a number of conditions, including
the approval of the Board of Directors of each company; the approval of the shareholders of the companies being acquired;
and the execution of definitive agreements.
MONITRx develops, markets and provides services related to a system of proprietary products intended to help health care
providers, particularly in the home health care market, and to automate the process of defining, providing, documenting, and
analyzing care provider operations. MONITRx's CADI System includes both software applications and hardware
components, including a unique and powerful pen-based computer used to manage field-based care provider operations and a
private and secure intranet used for communications between field-based users and branch-based users. The Company
anticipates that MONITRx's headquarters would be moved to the Company's Information Technology Group headquarters to
be located close to Bellevue, Washington.
Quantum Interlink is an Internet service provider located in Provo, Utah. Quantum Interlink would help expand the reach of
the Internet access providers being acquired by the Company's Information Technology Group, and would continue to
operate out of Utah.
Don Wright, President and CEO of the Company, said: ``We are pleased to have the opportunity to include these companies
in the group of companies that we anticipate will become the core of our new Information Technology Group. Our plan is to
integrate the similar services and functions of these companies to take the maximum advantage of their synergies, while
continuing to build upon their unique markets, products and managerial strengths.''
SOURCE: Pacific Aerospace & Electronics, Inc. |
