Applied Cellular Technology reaches agreement to acquire Cra-Tek.NIXA, Mo.--(BUSINESS WIRE)--Nov. 6, 1995--Applied Cellular Technology Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :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 signed a letter of intent to acquire 80% of Sacramento, Calif.-based Cra-Tek Co. Cra-Tek operates two major divisions, electrical contracting and industrial controls. In addition to being an authorized factory warranty shop for numerous manufacturers, Cra-Tek is an OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and manufacturer and developer of the PYTHON and GEMINI Laser power supplies. Richard J. Sullivan, chief executive officer of Applied Cellular Technology Inc., stated: "The acquisition of Cra-Tek Company is in line with ACT's goal of growth through conservative internal expansion and prudent, non-dilutive acquisition. In addition to the cross-marketing opportunities available through Cra-Tek's customer base, its Sacramento location, our first on the west coast, gives ACT a truly national presence. ACT's current horizontal mix of products and services positions us for continued and outstanding growth." 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 management for warehousing, distribution, retail and medical industries. CONTACT: Investor Relations Investor relations The process by which the corporation communicates with its investors. 303/355-9715 |
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