RDI Marketing Inc. Announces the Implementation of its First ''Expansion by Acquisition'' Strategy
BLOOMFIELD, Conn.--(BUSINESS WIRE)--Feb. 26, 1999--John Folger, CEO of RDI Marketing Inc. (OTC BB:RDIM - news) announced Friday that the company is meeting its goals of achieving ''operating status'' within the first quarter of 1999.
The Executive Management Team has traveled from Orlando, Fla. to Atlanta and on to New York City during the last several weeks conducting investor relations and negotiations that seek to solidify the strategy of the company.
The company, which is the only publicly traded entity within the private buying club industry, is creating a new nationwide brand by implementing a ''consolidation and roll-up'' strategy of existing key operations that offer existing management and membership capacity. The company expects to launch a new e-commerce and data management application to bring direct wholesale buying capacity to potentially millions of new members.
The company is in final stages of several acquisitions. The proposed acquisition of Personal Consumer Services, (PCS) with headquarters in Atlanta and an additional member sales and service facility in Birmingham, Ala., is scheduled for final closing during the first week of March 1999. RDI management is pleased that the principals of PCS will be joining the company in several capacities that will fortify both the scope and depth of the existing management team. The company believes that the quality of management staff that it can add as a result of carefully selected acquisitions will only enhance its capacity to implement its service and growth goals. Moreover, during the first week of March, Dean Barnes, vice president of Sales, will initiate visits to the locations of several additional prospective candidates being considered by the company.
The company plans to provide notice to its shareholders that hold ''Class B'' warrants of their conversion in order to close the current offering. The proceeds are expected to enable the company to fulfill its commitment to shareholders that the ''operating stage'' would be met in the first quarter of 1999. With the completion of the PCS audits, expected next week, the company will begin the process to become reporting.
Members of the Executive Management Team were joined by James Connolly, a contributing investment banker, at the annual ''Silicon Alley 99 Conference'' held in New York City this week. The conference hosted established and ''new breed'' emerging technology companies, as well as members of the venture capital and investment banking community.
Management of RDI Marketing held private meetings, both on and off-site, with representatives of several companies to review common expansion opportunities relating to new uses of interactive voice and video, digital photography and revenue-sharing business models focusing on search engine and database delivery systems. In addition, Connolly was instrumental in providing key introductions to several potential partnering opportunities designed to add a broader range of services to RDI Marketing and its members.
The proposed acquisition of Thunderstick Software, LLC, is moving forward as scheduled. The financials of the company are being compiled, while continuing the documentation of the business plans of this technology unit. Due to the extensive customer and relationship list, and the sophistication of the technology involved, strategic planning details of the acquisition must be precise. The management of both companies have been meeting weekly to coordinate administrative and logistical issues.
Thunderstick Software provides custom web design and development services. The core competencies lie in two distinct practice areas: Electronic Commerce and Imaging Systems.
-- Relational database systems
-- Data warehousing
-- Demographic and psychographic modeling and profiling
-- Transaction processing
-- Check (ACH) and credit card processing
-- Fulfillment integration
-- Shipping integration
-- Tracking systems
We incorporate a variety of technologies with our partners and vendors including Oracle, DBMS, FedEx and UPS tracking systems, OrderTrust, UUnet hosting and co-location, as well as SQL, XML and EDI systems.
Our imaging systems practice develops graphical and imaging systems, including VRML, Quicktime 3D, synthetic textures, dynamic images, avatars, video delivery and media management solutions. One media management solution is currently deployed at Saatchi and Saatchi, as a global extranet advertising campaign management system from clients such as Hewlett Packard, Delta Airlines and Toyota. Other recent projects include the MegaPixel Display monitor from Barco Inc. using Dome and Metheus display boards on the Sparc architecture.
The wide span and scope of our technologies are well suited to the Web. The availability of data and imaging experts has led to award winning solutions on behalf of our clients.
As the company continues to implement the business plan, additional details of the many transactions contemplated will become available.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.
Contact:
Fortune Marketing & Capital Consultants Inc.,
Longwood, Fla.
Investor/Media Relations
Art Martin, 407/696-2221
email: editor@smallcapjournal.com
www.smallcapjournal.com
biz.yahoo.com |
