!!!NEWS!!!
Columbia Capital Corporation Signs Letter of Intent to Acquire Two Electronic Processing Subsidiaries of American Banknote Corporation
PR Newswire, Friday, September 25, 1998 at 11:01
ABILENE, Texas, Sept. 25 /PRNewswire/ -- Columbia Capital Corp.
(BB: CLCK) today announced that it signed a letter of intent
to acquire two electronic processing subsidiaries of American Banknote
Corporation (NYSE:ABN). The transaction reflects the company's continuing
expansion into the electronic commerce arena. Terms of the proposed
transaction were not announced. The transaction is subject to due diligence
reviews and the satisfaction of various other conditions prior to closing.
Ken Klotz, president of Columbia, states, "Columbia has successfully
penetrated the healthcare and certain data processing and personalization
businesses. With the culmination of this acquisition, product and service
offerings by the combined companies will include medical and university smart
card programs, frequent buyer and loyalty programs, terminal sales and
support, as well as point-of-sale terminal card processing, utilizing the
company's proprietary communications center and switching facilities as well
as an expanded EBT program. As part of this transaction, we will also secure
an independent service organization (ISO) portfolio of seven hundred merchant
processing accounts. We believe that this acquisition makes good strategic
sense in that it provides Columbia Capital Corporation with immediate and
broad diversification of its products and customer base."
Columbia Capital Corp. operates through its wholly-owned subsidiary, First
Independent Computers, Inc., which is a multi-faceted information and
transaction processing service organization. The services provided by the
Company include credit and debit card processing, transaction processing for
the health care industry, bank and financial services processing and document
management and distribution services. The Company concentrates on a niche
market, consisting of small to medium-sized financial institutions, and health
care providers that have not achieved the economies of scale to operate their
own in-house programs and systems.
Forward-looking statements in this press release are necessarily subject
to risks and uncertainties, which may affect the accuracy of such statements.
Such risks may include any delays in the addition of business or loss of
existing customers. For a full discussion of such risks, please refer to the
Company's Form 10-KSB for the fiscal year ended December 31, 1997 and
subsequent filings. The company undertakes no obligation to update such
factors or to publicly announce the results of any revisions to the forward-
looking statements contained herein.
SOURCE Columbia Capital Corp.
-0- 09/25/98
/CONTACT: Charles LaMontagne, Chief Financial Officer of Columbia Capital
Corp., 915-674-3110, or chuckl@bitstreet.com/
Companies or Securities discussed in this article:
Symbol Name
NYSE:ABN American Banknote Corporation
BB:CLCK Columbia Capital Corp
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