Applied Cellular Technology reaches agreement to acquire 80% of Elite Computers.SPRINGFIELD, Mo.--(BUSINESS WIRE)--Aug. 8, 1995--Applied Cellular Technology Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB - 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 reached an agreement to acquire an 80% equity interest in computer parts wholesaler Elite Computers. This privately held Randolf, New Jersey company had reported net earnings of $500,000 on revenues of $2 million in calendar 1994. Terms of the acquisition were not disclosed. Elite Computer is a wholesale parts distributor for IBM products The following is a list of products from the International Business Machines (IBM) Corporation and its predecessor corporations, beginning in the 1890s, and spanning punched card machinery, time clocks, and typewriters, via mainframe computers and minicomputers, to microprocessors, PCs, . Elite purchases end-run product in quantity and at substantial discounts, dismantles the product, inventories the individual components, and then re-sells those components. As mainline/OEM component inventories become more scarce, the individual components can become more valuable than a complete machine. Elite, with an inventory of hard-to-find components extracted from machines purchased at close-out prices, is poised to fill the product gap while earning impressive net margins. Richard J. Sullivan, 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. of Applied Cellular Technology Inc. stated, "The rapid rate of advancements and the substantial cost of contant upgrades in computer hardware necessarily means that some users are finding it more cost-effective to upgrade or maintain existing equipment. "These users, including major corporations, require instant availability of hard-to-find replacement parts...Elite Computer has those parts. Applied Cellular Technology is very excited to explore the additional cross-marketing opportunities that Elite brings to the table." Applied Cellular Technology Inc. is a leading software development and services company, with product applications supporting RF wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. , programmer solutions, and real-time data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. management for warehousing, distribution, retail, and medical industries. CONTACT: Pratt, Wylce & Lords, Ltd., Idaho Springs, Colo. 303/567-0839 |
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