Tuesday May 26, 11:52 am Eastern Time
Company Press Release
Triangle Completes Credit Bureau Acquisition
COCONUT CREEK, Fla.--(BUSINESS WIRE)--May 26, 1998--Triangle Imaging
Group Inc. (OTC BB:TRIG - news) announced Tuesday that on May 22, 1998,
it completed the acquisition of 100% of the stock of Florida Credit
Bureau Inc. (FCB) through its wholly owned subsidiary, QuickCREDIT Corp.
(QCC). FCB is an Orlando, Fla. based credit reporting agency.
QuickCREDIT Corp., through its transition team, is now coordinating a
smooth changeover without any disruption of business.
The company is a local service provider offering single as well as
merged credit reports and RMCRs (Residential Mortgage Credit Reports) to
client in its geographical area. Clients include banks, mortgage
companies, and local businesses, which require credit services to
conduct business more efficiently.
According to QuickCREDIT President Van Saliba: ''This acquisition
enhances our position as a leader in the credit reporting field. We are
establishing a firm base from which to expand our growth across the
entire United States.''
QCC reports annualized revenues from FCB should exceed $1 million for
all of 1998. As other agencies come on line, management expects margins
to increase through elimination of redundant expenses.
Triangle is the parent of its wholly owned subsidiaries, whose corporate
resources include some of the leading figures in the computer, computer
software, mortgage, finance, credit reporting and insurance fields, with
both U.S. and global experience. Triangle, and its subsidiaries, are
actively seeking acquisitions in complementary technological fields and
are currently negotiating with several additional acquisition
candidates.
For more information contact Bill Whalen, Shareholder Services, at
954/968-2080, or visit our listing at stockprofiles.com.
-0-
This release may include forward-looking statements from the company
that may or may not materialize. Additional factors that could
potentially affect the company's financial results may be found in the
company's filings with the Securities and Exchange Commission.
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Contact:
Bill Whalen, Shareholder Services
954/968-2080
stockprofiles.com
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More Quotes and News:Triangle Imaging Group Inc (OTC BB:TRIG - news)
Related News Categories: banking
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