ARCOMS Announces Execution of Re-Capitalization Transaction.Business Editors and High-Tech Writers SAN DIEGO--(BUSINESS WIRE)--June 5, 2002 Advanced Remote Communication Solutions Inc. (ARCOMS ARCOMS Armor Combat Operations Model Support ) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTRK), today announced completion of a re-capitalization transaction, including both an equity infusion as well as a renegotiation of the terms of the company's debt. Under this transaction, Housatonic Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a private equity firm based in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and Boston, along with others, have provided an immediate capital infusion Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. for continuing the growth of ARCOMS' business units and subsidiaries. Financial details of the transaction were not disclosed. Brandon Nixon, general partner of Housatonic Partners, has been appointed to serve as the new chairman and chief executive officer of ARCOMS. Nixon brings an impressive background of executive management experience throughout various telecom and technology industries and market sectors. "Housatonic Partners is excited to participate in this initiative and I personally look forward to working with the management and staff of ARCOMS," Nixon said. "It is our collective challenge to execute upon a plan that will stimulate the company and enhance value to all ARCOMS shareholders." Michael Silverman, outgoing chairman and chief executive officer, stated, "I am pleased that we have successfully completed this transaction and believe it will lead to increased shareholder value. Housatonic Partners provides an excellent partner for ARCOMS at this stage in its growth cycle. I am confident that Brandon Nixon has all of the outstanding qualities necessary to lead the company into this exciting phase in its development." Silverman will continue to serve as a member of the ARCOMS board of directors. About ARCOMS Advanced Remote Communication Solutions Inc. (ARCOMS) is a global technology company delivering innovative and proprietary solutions to customers in specific markets for their remote information needs through its various business entities: Boatracs, Enerdyne Technologies Inc. and Innovative Communications Technologies Inc. (ICTI ICTI International Council of Toy Industries ICTI Interactive Clinical Technologies, Inc. ICTI Information and Communication Technology Institute (Afghanistan) ). ARCOMS' products and services include customized software See custom software. applications; cost-effective satellite communications solutions; near real-time vessel tracking; bandwidth-efficient, multimedia satellite networks; e-mail technology; state-of-the-art, real-time video compression Encoding digital video to take up less storage space and transmission bandwidth. See video codec and data compression. video compression - Compression of sequences of images. products; multiplexing equipment; and video monitoring services Video Monitoring Services (VMS) [1] is a media monitoring company that provides news and advertisements monitoring solutions. The company is headquartered in New York with more than 18 offices in the United States. . ARCOMS' client base includes users within the government, transportation, military, marine, telecommunications, and commercial markets. With headquarters in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , ARCOMS has offices in El Cajon, Calif.; Gulfport, Miss.; Gaithersburg, Md.; and Leiden, the Netherlands. For more information about ARCOMS and its business units, visit www.arcoms.com. Legal Disclosure Statements within this news release which are not historical facts, including statements about strategies and expectations for new and existing products, technologies, and opportunities are forward-looking statements that involve risks and uncertainties. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, those set forth in the risk factors identified in the company's filings with the Securities and Exchange Commission, particularly its Form 10-KSB for the year ended 12/31/01. The company undertakes no obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events. |
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