Could be an interesting to one to keep an eye on...
Friday March 12, 10:00 am Eastern Time
Company Press Release
SOURCE: WEBAccess, Inc.
WEBAccess Signs With Santa Fe Capital Group
FORT COLLINS, Colo., March 12 /PRNewswire/ -- WEBAccess, a wholly owned subsidiary of Applied Computer Technology, Inc. (OTC Bulletin Board: ACTI - news), announced today that it has engaged the services of Santa Fe Capital Group to assist the Company in identifying and evaluating potential acquisition candidates in the ISP industry.
The Agreement was signed as part of WEBAccess' expansion campaign. Part of this strategy includes the 'roll up' of small to mid-sized ISPs in the region during the next 12 - 18 months. Santa Fe Capital Group, a leading M&A firm in the ISP and Web hosting industries, has successfully closed over 40 transactions in the last 3 1/2 years.
According to Bud Prentice, President of WEBAccess, ''We are very optimistic about working with Santa Fe Capital Group as we implement our strategy for WEBAccess. We believe that a tremendous window of opportunity exists during the next 12 - 18 months to increase WEBAccess' membership through acquisition. Through strategic acquisitions, an aggressive membership campaign, and the development of an e-commerce site, WEBAccess plans to position itself as a leading regional Internet solution provider. We are pleased to have Santa Fe Capital Group as a business partner as we go forward.''
David Silver, Senior partner of Santa Fe Capital Group, stated, ''We are very excited about the prospect of representing a buyer with the outstanding qualifications of WEBAccess and consulting with them on their roll-up and financing strategies. Our firm is heavily vested in the consolidation of ISPs, and we enjoy a shared vision with WEBAccess. Santa Fe Capital Group is in discussions with multiple ISPs that we believe match WEBAccess' desired profile.''
WEBAccess, Inc. is a Colorado based Internet Service Provider providing dial-up and dedicated access as well as hosting services in Denver, Fort Collins, Colorado Springs and Boulder. WEBAccess also provides businesses with networking and office connectivity solutions.
Included in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to be correct. The Company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, access to capital, competition trends, and other market factors.
SOURCE: WEBAccess, Inc.
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