Here's the press release...
Wednesday March 17, 9:47 am Eastern Time
Company Press Release
Global MAINTECH Announces Participation
by Hambrecht & Quist in Major Acquisition
MINNEAPOLIS--(BUSINESS WIRE)--March 17, 1999--Global
MAINTECH Corporation (OTC-BB: GLBM - news), a worldwide leader in enterprise management software for data centers, announced that Hambrecht & Quist Guaranty Finance LLC (''H&QGF''), the lending arm of Hambrecht & Quist Group (NYSE listed), is a financial participant in MAINTECH's acquisition of Breece Hill Technologies. Pending approval of Breece Hill shareholders, this $30 million-in-sales company will be acquired by MAINTECH in exchange for equity. H&QGF will be supplying funding to the combined companies.
''We are, of course, thrilled that H&QGF is involved as a third party to this significant acquisition by Global MAINTECH,'' said David McCaffrey, CEO of Global MAINTECH. ''Not only is it comforting that they are investing in the combined companies after doing their typically thorough research, but their expertise in both
electronics and finance will have ongoing benefits to us.''
According to Andrew Kahn, President of H&QGF, ''We believe that Breece Hill has excellent products in the growing sector of storage management for data centers and that MAINTECH provides the strengths of administration, finance and engineering to help maximize Breece Hill's potential. The acquisition offers significant benefits to both. Our charter is to support emerging companies, and we are excited about the prospects of MAINTECH and Breece Hill.''
The focal point of MAINTECH's suite of systems and network management software products for data centers is its Virtual Command Center (VCC). The VCC is a master console that provides a single point-of-control for mainframe, midrange, UNIX, Microsoft NT and network devices. It can provide efficient consolidation of
consoles for delivery of software provided by other companies in the enterprise management market. As part of the original team that developed digital linear tape technology, Breece Hill Technologies provides tape libraries which are unsurpassed in reliability, performance and capacity to meet current, future and Y2k needs.
Forward-looking statements in this release are made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitations, continued use of the Company's services, and the continued availability of labor resources. |
