Applied Cellular Technology completes 80% equity purchase of Atlantic Systems.SPRINGFIELD, Mo.--(BUSINESS WIRE)--Aug. 10, 1995--Applied Cellular Technology Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :ACTC ACTC Apple Certified Technical Coordinator ACTC Almaden Cycle Touring Club ACTC Associated Colleges of the Twin Cities ACTC All Ceylon Tamil Congress (Sri Lanka) ACTC Association Canadienne de Télévision par Câble ) today announced that it has completed the 80% equity purchase of Silver Lake, N.J.-based Atlantic Systems Inc. Atlantic is a software developer and marketer of products oriented towards retail merchandising operations. Atlantic Systems Inc. reported reveneus of $1.4 million in 1994. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Richard J. Sullivan, Applied Cellular's chief executive officer, "This acquisition further expands Applied's software and RF (radio frequency) application capabilities in retail-oriented niche markets in which we are rapidly expanding. We anticipate that under the Applied Cellular Technology banner, Atlantic's revenue base will increase by 20% on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis, potentially delivering an additional $1 million to our income base." Applied Cellular Technology Inc. is a leading-edge developer and marketer of software development tools, RF wireless data communications systems, and a value added reseller See VAR. (company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). , providing products and services to the warehousing, mobile communications, manufacturing and health care industries. CONTACT: Pratt, Wylce & Lords Ltd., 303/567-0839 |
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