)(AUTC) AutoTradeCenter.com Inc. Acquires Automotive Industry Technology Provider.Business Editors SCOTTSDALE, Ariz.--(BUSINESS WIRE)--March 2, 2000 AutoTradeCenter.com Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: AUTC AUTC Australian Universities Teaching Committee ) Thursday announced that the company has acquired NDSCo.Com Inc. an Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the technology provider of automotive business-to-business solutions. NDSCo.Com was a major competitor of the company in providing technology and re-marketing services for fleet and off-lease vehicles to manufacturers, car rental companies and financial institutions. Company President Roger L. Butterwick stated, "Our acquisition of NDSCo.Com complements our existing technology and will expand our ability to service other niche markets A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. . By obtaining their proprietary technologies, key personnel, and the business relationships they have developed in the industry, we will accelerate the development of our business plan. This transaction firmly positions AutoTradeCenter.com as the leader of the Internet's business-to-business automotive re-marketing solutions. This acquisition was strategically important in our efforts to rapidly gain market share by demonstrating our commitment to provide leading edge technology solutions to the disposition process of used vehicles." AutoTradeCenter.com is a leading Internet-based "business-to-business" automotive wholesale and re-marketing company. On its web site, www.autotradecenter.com, the company markets its service to its national dealer base, to automotive lease and rental companies, and to banks and financial institutions across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. who can use the site's many features for more efficient buying, selling and trading. The company also owns the Web site www.tradeincarsonline.com through its subsidiary BusinessTradeCenter.com Inc. TradeinCarsOnline is the first Web site to allow a consumer purchasing a new vehicle online to receive a firm purchase bid on his trade-in vehicle. For more information on AutoTradeCenter.com Inc., please visit www.autotradecenter.com. Statements regarding financial matters in this press release other than historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion