Akili Systems and hybridigital Announce Merger Agreement; Pending Merger Brings New Player to Full-Service E-business Solutions Field.DALLAS--(BUSINESS WIRE)--Dec. 15, 1999-- Akili Systems, a rapidly growing 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 systems integrator An individual or organization that builds systems from a variety of diverse components. With increasing complexity of technology, more customers want complete solutions to information problems, requiring hardware, software and networking expertise in a multivendor environment. , and hybridigital, a Dallas-based provider of Web-based e-commerce solutions, announced today plans for a merger between the two companies. The newly-formed entity, Akili, will provide end-to-end e-business solutions to mid-level and Fortune 1000 customers, with an emphasis on the Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Telecom, Energy/Utilities and Retail industries. Funded by Austin Ventures, Inc., the transaction is expected to be complete by late January 2000. The proposed merger will combine Akili's strength in back-end systems integration with hybridigital's expertise in front-end design and Web development, to position Akili as a strong competitor in the rapidly growing e-business services industry. The new Akili will offer a full range of services, including creation and implementation of e-commerce strategies, back-end systems integration, and front-end Web development and design. Akili Systems ranked 241 on the recently published 1999 Inc. 500 list of fastest-growing U.S. companies. "We are extremely positive about this union and feel that it will position Akili as a leading player in the Web-based e-commerce solutions industry," said Shiek Shah Shah is a Persian term for a monarch (ruler) that has been adopted in many other languages. This term is a Post Islamic Revolution term for monarchs in Iran which is replaced by valie faghih or Supreme Leader. , co-founder of Akili Systems. "It positions us very strongly in a space that has been highly-valued in the market. The creative and strategic talents of hybridigital will be a great complement to Akili's technical strengths. From our initial meeting, we could feel the synergies between our cultures and our common guiding principles of commitment, integrity, quality, and client-focused service." Following the completion of the merger, Shah and Akili co-founder Andrew Thorby will remain as co-CEOs of the new Akili. The management council will include leaders from both Akili Systems and hybridigital, including hybridigital's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , John Swieter and its president, Michael Petree. hybridigital's current roster of more than 35 employees will join Akili Systems' 165-member team. The new company will have offices in Dallas, Houston, and Atlanta. John Swieter, CEO of hybridigital said, "hybridigital brings a comprehensive front-end design and Web development competency COMPETENCY, evidence. The legal fitness or ability of a witness to be heard on the trial of a cause. This term is also applied to written or other evidence which may be legally given on such trial, as, depositions, letters, account-books, and the like. 2. that dovetails seamlessly with Akili's robust back-end systems integration capabilities. This merger will enable us to compete at the forefront of the Web services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. industry, providing our customers with a one-stop, end-to-end resource of e-commerce solutions." Akili Systems' client roster includes Chase Bank, Mobil Oil, Pennzoil-Quaker State, Southwest Airlines This article is about the American airline. For the former Japanese airline, see Japan Transocean Air. For the British airline, see Air Southwest. Southwest Airlines Co. , The Staubach Company, Regency Regency, in British history, the period of the last nine years (1811–20) of the reign of George III, when the king's insanity had rendered him unfit to rule and the government was vested in the prince of Wales (later George IV) as regent. Voice Systems and CenturyTel. hybridigital's current customer list includes GE Power Systems, BankDirect, FirstStreet, iChoose, and Nokia. Revenues for both companies have exceeded 100% year-over-year growth in 1998 and 1999. Once the merger is complete, project teams will be blended to provide customers with a greater mix of technical and creative talent. The two companies are already joining forces on a number of collaborative projects, including work for Global Equine equine Any member of the ungulate family Equidae, which includes the modern horses, zebras, and asses, all in the genus Equus, as well as more than 60 species known only from fossils. Equines descended from the dawn horse (see Eohippus). and Suiza Foods. About Akili Systems Founded by independent technology consultants Shiek Shah and Andrew Thorby in Dallas in 1992, Akili Systems is a rapidly growing Internet systems integrator that helps its clients thrive in the digital age through the application of large-scale, custom e-solutions. Akili is Swahili for "cleverness, intelligence, wisdom and knowledge." The privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. has grown from a team of two to more than 165 information technology professionals based in the company's Dallas headquarters and Houston and Atlanta offices. Akili ranked 241 on the recently published 1999 Inc. 500 list of fastest-growing U.S. companies. For more information on Akili, please visit www.akili.com. About hybridigital hybridigital, founded in 1998, is a leading Internet services company that provides strategic consulting and comprehensive interactive-based solutions for technology users. hybridigital, based in Dallas, combines its award-winning design expertise with interactive engineering to design, develop and implement advanced Web-based solutions. For more information, visit www.hybridigital.com. |
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