4Front Technologies, Inc. to Acquire European Computer and Telecom Services Group.LONDON--(BUSINESS WIRE)--Aug. 3, 1999-- -SIL Group Acquisition Expands 4Front's European Presence to Germany, Holland, Spain, Scandinavia and Eastern Europe- 4Front Technologies, Inc. ("4Front") (Nasdaq:FFTI FFTI Federazione Field Target Italia (Italian) FFTI Feel Free to Ignore ) (Easdaq:FFTI) today announced it has entered into a definitive agreement to acquire the SIL See safety integrity level. 1. SIL - "SIL - A Simulation Language", N. Houbak, LNCS 426, Springer 1990. 2. SIL - SNOBOL Implementation Language. Intermediate language forming a virtual machine for the implementation of portable interpreters. Service Industries Group ("SIL"), a European computer ar a total consideration of approximately $2.3 million, consisting of $1.7 million in cash and 60,000 4Front e acquisition and that it will be accretive to earnings by the end of the current fiscal year. Following theer services market. With offices in the UK, Germany, Holland, France, Spain, the Czech Republic Czech Republic, Czech Česká Republika (2005 est. pop. 10,241,000), republic, 29,677 sq mi (78,864 sq km), central Europe. It is bordered by Slovakia on the east, Austria on the south, Germany on the west, and Poland on the north. , Sweden and Poland, SIL has established itself as a leading European will give 4Front its first operational presence in key IT service markets including Germany, Holland, Spain, Scandinavia and Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. . In addition, SIL has valuabltion will also give 4Front a more significant involvement in telecom services and will bring the Company a strong customer list which includes several of the world's leadChairman and Chief Executive Officer of 4Front, said, "The acquisition of SIL is an important step in establishing 4Front as a truly pan-European provider of IT services. It not only gives 4Front its first operational presence in a number of key new European markets such as Germany, Spain and Holland, which was one of our key strategic targets for this year, but also strengthens 4Front's presence in the UK and French computer service markets. Furthermore, the SIL acquisition provides us with the bonus of additional locations in Scandinavia and Eastern Europe. It also brings with it an excellent management team, who will join our team and help us as we seek to achieve our goal of becoming one of the top 10 independent European IT service companies." About 4Front Technologies, Inc. 4Front Technologies, Inc., is a leading provider of information technology and outsourcing solutions, which consist of specialized computer services Data processing (timesharing, batch processing), software development and consulting services. See service bureau, SaaS and ASP. and complementary products, primarily to blue-chip corporations in the United Kingdom and Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. . 4Front's services and solutions include help-desk support, education services, hardware maintenance, network services, systems integration, specialized software services and products and the supply of high-end storage systems. 4Front's customers include British Petroleum, British Telecom The telephone and communications carrier that provides services in Great Britain and Northern Ireland. It used to be a division of the British Post Office, but was privatized in 1984 under Margaret Thatcher's administration. , Telecom Italia, Computer Sciences Corp., Dupont, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Cegedim, Renault, Energis, Pfizer, Cariplo, JP Morgan and the UK Ministry of Defence. Additional information on 4Front can be found on the Company's website at www.4fti.com. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion