Applied Digital Solutions Acquires Computer Equity, Inc.Business Editors/High Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--Aug. 2, 2000 Acquisition gives Applied Digital access to high-volume government and commercial customers and will accelerate Applied Digital's strategic goal of enabling e-business through CTII CTII Comprehensive Technologies International, Inc. (TM) -- Computer Telephony See CTI, VoIP and IP telephony. Computer Telephony - Computer Telephone Integration Internet Integration Applied Digital Solutions, 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 :ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ), a leading, single-source provider of e-business solutions, today announced the acquisition of Computer Equity, Inc. (COMPEC), including its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , GTI GTI Gas Technology Institute GTI Global Taxonomy Initiative GTI Good Time Interval GTI Guelph Turfgrass Institute GTI Green Theme International GTI Gordon Training International GTI Georgia Transportation Institute GTI Group Travel Insurance (GovTel, Inc.). COMPEC is a privately held holding company headquartered in Chantilly, Virginia Chantilly is an unincorporated community located in western Fairfax County and southeastern Loudoun County of Northern Virginia. Recognized by the U.S. Census Bureau as a census designated place (CDP), the community population was 41,041 as of the 2000 census. . With revenues of $33.0 million for the fiscal year ended February 29, 2000, and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become of $3.8 million, COMPEC operates four wholly owned subsidiaries, including Government Telecommunications, Inc. (GTI). This acquisition is designed to accelerate Applied Digital's strategic of goal of "enabling e-business through CTII(TM) (Computer Telephony Internet Integration)." Commenting on the acquisition, Applied Digital's Chairman and 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. , Richard Sullivan For the author and academic, see Richard T. Sullivan. Richard Joseph Sullivan (born 1964) is a judge of the United States District Court for the Southern District of New York. Nominated by President George W. said: "We're very excited about this acquisition. By bringing Computer Equity and GTI into the Applied Digital family, we will extend the range of services we can provide to our government and commercial customers. For example, we're adding such critical services as a 24/7 help desk support system, Internet-based call detail reporting, and network installation and design for Wide Area Networks and Local Area Networks. We'll also be able to provide truly turnkey support for CLECs (Competitive Local Exchange Carriers) and ASPs (Application Service Providers) who offer their customers such services as provisioning, installing, and maintaining systems based on DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary , T1 and wireless technologies." John G. Ballenger, founder and President of COMPEC, stated: "By acquiring COMPEC, Applied Digital will have the ability to expand more quickly into the multibillion dollar government telecommunications and e-business market place." Chris Ballenger, Chairman of COMPEC's largest subsidiary, Government Telecommunications, Inc. (GTI), added: "I am extremely pleased that we are teaming up with an e-commerce industry leader like Applied Digital Solutions. This partnership will enable us to offer GTI's government customers a wide range of new services, while at the same time reaching out to a much broader spectrum of commercial clients. This transaction is a major plus, not only for GTI and Applied Digital Solutions, but for all of our customers who are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. real e-business solutions." COMPEC and GTI have a strong track record of success in providing a full array of telecommunications, wireless and network integration services to government agencies and other high-volume customers. For instance, GTI's customers include major agencies of the Federal government such as the Social Security Administration, the Internal Revenue Services and the General Services Administration The General Services Administration (GSA) was established by section 101 of the Federal Property and Administrative Services Act of 1949 (40 U.S.C.A. § 751). The GSA sets policy for and manages government property and records. . GTI offers turnkey solutions, including any necessary local exchange carrier and competitive local exchange carrier coordination, equipment provisioning, personnel training, legacy system upgrades and network systems integration. GTI's "total solution" capability involves the delivery of data, voice and video throughout a customer's facility directly to the desktop. GTI's expertise incorporates the design, provisioning, installation and maintenance of networks, including everything from the cable infrastructure, to the backbone through and through; thoroughly; entirely. - Lord Lytton. See also: Backbone hardware and the desktop itself. During the last three years, GTI has installed network solutions in over 6000 locations nationwide. These network solutions have included projects ranging nationwide rollouts to campus-wide SONET systems and single office LANs. By combining the capabilities of Computer Equity and GTI with Applied Digital's existing spectrum of service offerings, Applied Digital will be able to offer government and commercial customers a single point of contact for all of their design, equipment, installation and maintenance needs. In addition, because of its recently announced acquisition of Perimeter Technology, Applied Digital is now able to extend advanced customer care technologies pioneered by Perimeter Technology, including Net-VU(TM), to COMPEC and GTI's extensive roster of government and commercial customers. Net-VU offers state-of-the-art Internet Protocol-Automatic Contact Distribution (IP-ACD) solutions that merge an organization's contact center and website, creating a "virtual storefront" staffed with contact center agents. Net-VU provides the means for the web customer on an organization's website to generate an inquiry at the time they choose, connecting them to a contact center agent via one or more communication mediums, including On-Line Text Chat, E-Mail, PSTN (Public Switched Telephone Network) The worldwide voice telephone network. Once only an analog system, the heart of most telephone networks today is all digital. In the U.S. Call-Back and Voice over IP. Applied Digital expects Net-VU to immediately enhance the "customer touch" features embedded Inserted into. See embedded system. in GTI's 24/7 help desk and other important customer service capabilities. About the CTII(TM) Initiative Applied Digital Solutions has successfully focused its strategic direction and organized the company into four core business groups: Internet, Telephony, Network and Applications. As part of this successful transformation, the company has positioned itself as a leading-edge provider of Computer Telephony Internet Integration (CTII) services. This CTII focus differentiates Applied Digital Solutions in the e-business solutions marketplace. With CTII, Applied Digital provides the full range of services and skills that companies need to conduct business online. Through its four integrated business groups, Applied Digital designs and deploys complete, front-to-back, web-enabled e-business systems -- all with a single point of contact for the customer. About Computer Equity Corporation (COMPEC) Founded in 1986 by John G. Ballenger, Computer Equity Corporation (COMPEC) is a privately held holding company headquartered in Chantilly, Virginia. With revenues of $33.0 million for the fiscal year ended February 29, 2000 and EBITDA of $3.8 million, COMPEC specializes in providing integrated telecommunications, telephony, computer and Internet systems, services and products to the U.S. government, as well as the commercial marketplace. COMPEC operates four wholly owned subsidiaries -- Balva Financial Corporation, Federal Convention Contractors, Inc., Federal Services, Inc. and Government Telecommunications, Inc. For more information, please visit www.compec.com. About Government Telecommunications, Inc. (GTI) COMPEC's largest unit, GTI is a leading integrator (1) In electronics, a device that combines an input with a variable, such as time, and provides an analog output; for example, a watt-hour meter. (2) See systems integrator. of telecommunications systems and support providing telephony, networking, LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. and WAN services to industry and the Federal Government. GTI provides personnel resources, management systems, and facilities to successfully plan, organize, staff, direct, deliver, install and control the work effort for the implementation of nationwide network systems solutions. GTI delivers and supports all of the components required for the entire solution including people, hardware, software, and infrastructure. For more information, please visit www.govtel.com. About Applied Digital Solutions, Inc. Applied Digital Solutions is a leading-edge, single-source provider of e-business solutions. The Company differentiates itself in the marketplace by enabling e-business through Computer Telephony Internet Integration (CTII(TM)). With five-year revenue growth (from 1994 to 1998) of 64,012%, Applied Digital Solutions is ranked as the fifth fastest-growing technology company by Deloitte & Touche in its 1999 Technology Fast 500 listing. For more information, visit the Company's web site at www.adsx.com. Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are `forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. The Company intends that such 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. involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |
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