Joe, SLEL Paul has news today:
SARASOTA, Fla.--(BUSINESS WIRE)--May 23, 2000--Salient Cybertech, Inc. (OTC BB: SLEL - news), an Internet technology company, announced today
that it has completed the purchase of Futronix, Inc, an ISO 9002-certified contract electronic assembly manufacturer specializing in Surface Mount Technology
(SMT). A Letter of Intent to acquire the company was originally signed in April of this year.
Futronix' revenues for fiscal 2000 are expected to be in the range of $12-15 million. Salient will also acquire Futronix' 55,000 square foot manufacturing facility and
40 acres of real estate in Homosassa, Florida on which it stands.
``Futronix is a highly respected company whose products, services, and reputation will bring substantive benefits to our company,'' said Paul Sloan, president and
CEO of Salient Cybertech. ``Futronix represents exactly the type of high quality venture we are looking for as we continue to grow Salient's presence and
profitability in the software and hardware technology fields.''
Futronix, Inc. provides engineering, design, production and in-circuit testing services, as well as full turnkey box build manufacturing for both consumer products and
commercial applications. The company's international client list includes Peek Traffic, Inc., Tritheim Technologies, Inc., Amazing Smart Card Technologies, Inc., and
Axxon Corporation.
``We are extremely proud of our growth over the last 11 years,'' said Futronix founder and president Nevin Jenkins. ``By joining the Salient family, we will be able to
grow even further and faster than we could have on our own,'' he continued. ``Having the immediate backing and long term support of this company gives us great
confidence in our combined future.''
About Salient Cybertech, Inc.
Salient Cybertech's mission is to leverage existing and emerging software and hardware technologies in the Internet and electronics-related industries. The company
maintains an ongoing search for acquisitions of proven successful ventures. Toward this end Salient acquired Gemini Learning Systems in October 1999. Salient
trades on the OTC BB (Symbol SLEL). Investor relations information can be found on the web at: www.salientcyber.com.
About Gemini Learning Systems
Established in 1990, Gemini Learning Systems develops adaptive learning technology for the distance education and computer based training industry. Gemini's
SGML/XML Adaptive Learning Environment and Learning Manager deliver highly interactive, personalized courses over the Internet, within corporate Intranets and
on CD-ROM. Gemini's worldwide clients include government agencies, corporations and educational institutions. Gemini is a wholly owned subsidiary of Salient
Cybertech, Inc. and can be found on the Web at www.gemini.com.
About Futronix, Inc.
Established in 1989, Futronix is an ISO 9002-certified consignment and turnkey contract electronic manufacturer. Futronix offers advanced Surface Mount
Technology capabilities, mixed technology, mechanical assembly, in-circuit and functional testing, and design and engineering services for customers. The company's
55,000 square-foot plant is located in Homosassa, Florida. For more information, email futronix@smtrus.co, visit www.smtrus.com, or call 352-628-1900.
Forward Looking Statements: This news release contains certain ``forward-looking'' statements within the meaning of the Private Securities Litigation Reform Act of
1995, which provides a new ``safe harbor'' for these types of statements. To the extent statements in this news release involve, without limitation, product
development and introduction plans, the Company's expectations for growth, estimates of future revenues, expenses, profits, cash flow, balance sheet items,
sell-through or backlog, forecasts of demand or market trends for the Company's product categories and for the industries in which the Company operates, or any
other guidance on future periods, these statements are forward-looking statements. The Company assumes no obligation to update forward-looking statements.
All trademarks, trade names, service marks and logos referenced herein belong to their respective companies
Contact:
Salient Cybertech, Inc.
Paul Sloan, 941/953-6168
ceo@salientcyber.com |
