Razorbak: Re: acquisition
Actually, I was looking for space down in Phoenix (125 miles away) to house a small technical staff for one of our near term initiatives. I mentioned that fact at a social gathering, and one of our friends mentioned that there was some space available here in Sedona. Sedona space wouldn't suit our needs for a couple of reasons. First, the activity I had in mind would require close proximity to the airport, and, second, the people who have the expertise we need all live in the Phoenix area.
Our friend mentioned that the office next to the available space here in Sedona was occupied by a software development company called Knowledge 2000. That tweaked my interest. It so happens that a retired buddy of mine does technical research activities for entrepreneurs. He had asked me several months ago about a company called Knowledge 2000 in Sedona, but I didn't know anything about it at that time. He said they were looking for additional funding.
I visited Knowledge 2000's office and queried them about what they were building and whether Planet City might remarket their product. We discussed various alternatives, and let our imaginations wander.
And the rest, they say, is history.
This was an opportunistic acquisition. It allows us to bring the corporate administration functions here where I can keep a close eye on them, and it gives us a custom-made development facility that we would have needed down the road a few months, anyway, to fulfill our long term expansion plans. I expected that facility would be located in one of the major Metropolitan areas where technical talent is more readily available. The fact that there is senior technical talent available right here in Sedona was a pleasant surprise to me. We can now shift some of our long term plans to current activities, and we can take some of the load off the technical staff in Montreal.
This is a good thing.
Incidentally, I will continue my search for space in the Phoenix area, but that search is taking a back seat while all the necessary corporate headquarters transitions are taking place.
A "Safe Harbor" statement follows my signoff.
Regards,
TED
Terry E. Dennis, President & CEO
Planet City Software, Inc. (OTC BB: PINC)
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein which are not historical facts are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
|
