To: Joe Copia who wrote (8165 ) 9/30/1998 4:36:00 PM From: David Sirk Respond to of 25711
Wrong One here is todays! Home - Yahoo! - Help [ Business | US Market | By Industry | IPO | AP | S&P | International | PRNews | BizWire ] Wednesday September 30, 4:11 pm Eastern Time Company Press Release SOURCE: Pacel Corporation Pacel Corp. Signs Letter of Intent to Acquire Hardware/Imaging Company MANASSAS, Va., Sept. 30 /PRNewswire/ -- Pacel Corporation (OTC Bulletin Board: PLRP - news) announced today that it has signed a letter of intent to acquire the assets of a privately held Virginia-based hardware/imaging company. This purchase will provide Pacel with the ability to offer a total hardware/software solution package to clients, expansion of markets and market share, and will result in an immediate estimated revenue increase of approximately $3-$4 million per year. Pacel President and CEO Dave Calkins has now projected annual revenues for Pacel to be $2.8 million in 1998 and over $5 million in 1999. Commenting on this acquisition, Dave Calkins added, ''This represents a major step in accomplishing our goals for 1998 and beyond. It offers the company an opportunity to truly expand and grow revenues substantially. We expect to close the acquisition in the next 2-3 weeks.'' In addition to software development, Pacel has engaged in Services work including user training for software programs, paper to electronic document conversion, and software testing. Pacel has recently expanded capabilities to include custom design and development of software and web pages. Pacel Corporation designs, develops, services, and supports user-friendly software solutions targeted towards the utility, biotechnology, and aerospace industries. Current Pacel clients include NASA (Columbia Space Shuttle Program), Baltimore Gas and Electric (NYSE: BGE - news), Texas Utilities (NYSE: TXU - news), PECo Energy (NYSE: PE - news), and George Mason University, just to name a few. For more information on Pacel Corporation, contact President and CEO Dave Calkins at 703-257-4759. Safe Harbor Act Disclaimer: This release may contain forward-looking statements that involve risk and uncertainties, including without limitations, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes, the company's dependency on financing third party suppliers and intellectual property rights, and other risks detailed from time to time in the company's federal filings, annual reports, offering memorandums, or prospectus. SOURCE: Pacel Corporation More Quotes and News: Pacel Corp (OTC BB:PLRP - news) Related News Categories: computers Help Copyright © 1998 PRNewswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information. Questions or Comments?