Here's another that took off on this news.
ACTI is coming off a low in a B I G way on this announcement:
Wednesday December 30, 3:00 pm Eastern Time
Company Press Release
SOURCE: Applied Computer Technology, Inc.
Applied Computer Technology, Inc.
Announces a Shift in Business Focus to Internet Services
and Electronic Commerce
FORT COLLINS, Colo., Dec. 30 /PRNewswire/ -- Applied Computer Technology, Inc. (OTC Bulletin Board: ACTI - news), a systems integrator and manufacturer of complete, customized
computer systems, has announced its intent to redefine its business model to focus on WEBAccess, the Company's Internet subsidiary.
According to Bud Prentice, President and CEO of Applied Computer Technology, Inc., ''Management has been evaluating the Company's ongoing strategy in light of the PC industry's migration towards a commodity industry. Options which were considered included partnering with manufacturers to enter the sub $1,000 arena, redirecting the Company's product line to produce only high end servers and workstations, or exiting from the hardware business to pursue the
Company's professional service opportunities.
Prentice continued, ''ACT is very excited to announce
its decision to aggressively pursue the growth
of WEBAccess, the Company's wholly owned Internet subsidiary. WEBAccess was founded approximately 3 years ago
as part of the Company's expansion into technical services.
Prentice further commented, ''We see Professional
Services as the next logical progression for
ACT. These services will begin with WEBAccess
and its related networking services. Over the
course of the next 2 years, the Company's strategy
will be to increase its subscriber base through the
acquisition of regional Internet Service Providers
(ISPs) and the active pursuit of Corporate and
Individual accounts in Denver, Boulder, Ft. Collins,
and Colorado Springs. The Company's
resources are presently being re-deployed to this end.
Prentice continued, ''Additionally, ACT will also
be pursuing opportunities in the areas of Web
Hosting and Electronic Commerce. In particular,
we see Electronic Commerce as having a large
upside potential as more and more businesses
embrace the Internet as a viable marketplace.
Strategies being considered include the
implementation of regional electronic malls and online
communities for WEBAccess members.
In closing, Prentice stated, ''We expect that with
renewed focus and a strong marketing campaign,
we will be successful in rapidly growing WEBAccess
in the coming years. We are optimistic that
ACTI will be successful in leveraging its technical
capabilities and large regional customer base, to
pursue the business opportunities afforded by
the evolving Internet market.''
Applied Computer Technology, Inc. is a Colorado
based service provider with emphasis on
networking, service, and Internet connectivity.
WEBAccess, Inc. is a Colorado based Internet
Services Provider providing dial-up and dedicated
access in Denver, Ft. Collins, Colorado Springs,
and Boulder.
Safe Harbor Statement: This press release contains
certain forward-looking statements and
discussions of potential business strategies.
All of these statements represent Management's informed
assessment of possible business opportunities for
the Company. These opportunities represent future
events, which can not be predicted with certainty.
All such future events are subject to factors
beyond Management's control, including but not
limited to market conditions, competition, and
access to capital. As such, there can be no
assurance that the Company will be successful
in these endeavors.
SOURCE: Applied Computer Technology, Inc. |
