Wednesday October 2 3:35 PM EDT
Dci Telecommunications Announces Agreement To
Acquire Momentum Systems Limited
FAIRFIELD, Conn., Oct. 2 /PRNewswire/ -- DCI Telecommunications, Inc., of Fairfield,
Connecticut, a public company ( DCI TELECOMMUN ), today announced it has signed a letter of
intent to acquire Momentum Systems Limited (Momentum), a privately held communications
software company located in Moorestown, New Jersey.
Momentum's principal business is the sales, licensing and support of its Intelligent Network Gateway
which is communications software used on client/server-based computers. Momentum recently
announced the completion of F-Mail, a low cost "shrink-wrap" software product which is used to
manage Internet, Intranet, and distributed processing communication requirements.
Thomas A. Corr, President and CEO of Momentum stated "Momentum has built a strong
reputation in the Electronic Commerce communications market with our Intelligent Network
Gateway product which is installed at some of the largest financial and governmental organizations in
the U.S. We believe that as part of the DCI family of companies, we will have the additional
resources that we require to successfully market our new NT version of the Intelligent Network
Gateway as well as our new F-Mail Internet/Intranet communications software."
Joseph Murphy, President and CEO of DCI commented, "DCI is delighted to reach an agreement
with Momentum. We firmly believe that Momentum's communication software products position it
not only as a leader in the traditional LAN/WAN markets but also at the forefront for Internet and
Intranet communications. As Electronic Commerce (EC) and Electronic Data Interchange (EDI)
over the Internet grows at an extremely rapid rate, Momentum's F-Mail product is well positioned
to play a major role in Internet file transfer and file management activities."
Murphy went on to say that the addition of Momentum Systems to the DCI family of companies,
furthers its strategy to become a leader in worldwide communication technology and services.
The acquisition of Momentum, when finalized, is expected to add approximately $1.5 million in
annualized sales, $100,000 in profits and $1.7 million in assets. The acquisition will involve stock for
assets and an earn out for additional shares. SOURCE DCI Telecommunications, Inc. |
