Anderson to Acquire Larger Stake in Citizen's Title.FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--July 20, 1999-- Anderson Computers/Tidalwave (Pink Sheets:ACPT ACPT Acceptance ACPT Apple Certified Portable Technician ACPT Accept ACPT American Crossword Puzzle Tournament ACPT American Community Properties Trust ACPT Automated Corporate Planning Tool ACPT Air Campaign Planning Tool ) Tuesday announced that the company has signed a letter of intent to acquire an additional 20 percent of Citizen's Title Services Inc. Citizen's Title Services is a fully automated title insurance agent with offices in 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. and Melbourne, Fla. "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. This acquisition fits exactly with the Anderson corporate strategy of acquiring mortgage related companies such as Citizen's Title Services. "Citizen's Title Services Inc., which does over $100 million in loan closings, is a key development for us into the Internet mortgage and related services industry," commented Kline. Analyst predictions indicate that mortgage loans over the Internet will soar SOAR - 1. State, Operator And Result. A general problem-solving production system architecture, intended as a model of human intelligence. Developed by A. Newell in the early 1980s. SOAR was originally implemented in Lisp and OPS5 and is currently implemented in Common Lisp. to about $250 billion within the next five years. Potential homeowners and mortgage shoppers will be able to apply online and have pre-eapproval 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 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. : Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of 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. 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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