Anderson Computers/Tidalwave Completes Acquisition With Citizen's Title Inc.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--June 24, 1999-- Anderson Computers/Tidalwave (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ACPTE) announced today that the Company has completed its acquisition of a minority stake in Citizen's Title Services, Inc. "We expect the mortgage and title insurance business over the internet to grow quickly like the online stock brokerage business has grown," stated Leon Kline, President of Anderson Computers. Anderson Computers due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. was done in a timely manner, which allowed for closing of this transaction ahead of schedule. This acquisition fits exactly with the Anderson corporate strategy of acquiring mortgage related companies such as Citizen's Title Services. Citizen's Title Services is a fully automated title insurance agent with offices in Fort Lauderdale, Florida Fort Lauderdale, known as the "Venice of America" due to its expansive and intricate canal system, is a city in Broward County, Florida, United States. The city's population is described as metropolitan, where diverse culture is commonplace. According to 2006 U.S. and Melbourne, Florida Melbourne is a city in Brevard County, Florida, United States. As of the 2000 census, the city had a total population of 71,382. As of 2005, the population estimated by the U.S. Census Bureau is 76,646. . Citizen's Title Services has a network infrastructure that allows for expansion of satellite title offices communicating over a frame relay A high-speed packet switching protocol used in wide area networks (WANs). Providing a granular service of up to DS3 speed (45 Mbps), it has become popular for LAN to LAN connections across remote distances, and services are offered by most major carriers. circuit. This allows for seamless and smooth closings for mortgage loans throughout the state of Florida. "Our strategy is to grow through acquisitions of both Internet and non-internet business," stated Kline. "Citizen's Title Services, Inc., which does over $100 million in loan closings, is a key development for our entry in to the Internet mortgage and related services industry. Analyst predictions indicate that mortgage loans over the Internet will soar to about $250 billion within the next five years. Potential homeowners and mortgage shoppers will be able to apply online and have pre-e*approval within minutes and will know the current mortgage rates, fees and programs. Safe Harbor 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. 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. |
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