Archer Systems Ltd. Inc. to Acquire Comlinx Inc.
ISELIN, N.J.--(BUSINESS WIRE)--Nov. 16, 2000
Archer Systems Ltd. Inc. (OTCBB:ARYN), Thursday announced that it has entered into a definitive acquisition agreement with ComLinx Inc. (ComLinx), a privately held Internet communications firm.
The transaction involves an equity exchange agreement. ComLinx will operate as a wholly owned subsidiary of Archer.
With headquarters in Edison, N.J. ComLinx offers proprietary end-to-end event marketing applications known as WEBINAR(R) eVent services. Events include online user conferences, sales seminars, shareholders meetings, road shows, product launches, training sessions and virtual trade shows.
ComLinx derives revenues from event production, moderator and promotional services for its clients, which include IBM, Apple, SalesCentrix, WorldSites, Siemens, rSchool.com and Aspen Systems.
Eric Korb, who founded ComLinx in 1997, will continue to serve as its president and CEO. Previously, Korb was one of the co-founders of Access Graphics Inc. of Boulder, Colo., which was later acquired and is now operating as GE Access, owned by the General Electric Co.
GE Access is described as the premier value-added technical distributor of complex computing products, services, and solutions and the largest distributor of Sun Microsystems and Oracle products.
As reported in a news release dated Aug. 4, 2000, Archer Systems entered into a financial advisory agreement with Irvine, Calif.-based Superwire.com Inc. (OTC "Pink Sheets": SUPW).
Superwire is an integrated broadband services company that delivers voice, video and high speed Internet to the multi-tenant building market using already existing telecommunications infrastructure at speeds up to 200 times faster than dial-up.
Archer also announced Thursday the creation of Broadband Solutions, a new operating division established to install the broadband systems developed by Superwire.com. Broadband Solutions' operations will extend to the procurement of equipment as well as installations of Superwire systems. To date, Superwire has completed 10 installations with 20 more in progress.
The new division will also seek opportunities to interface with other providers of broadband content and infrastructure.
Archer, effective Oct. 24, 2000, unwound its proposed strategic alliance with INFe.com (OTCBB:INFE) and recovered all of the Archer shares issued in consideration thereof.
With headquarters in Iselin, Archer Systems acquires, develops and/or operates companies through its wholly owned subsidiaries and division(s).
The Archer Systems annual meeting of stockholders is being held Thursday, Nov. 16, 2000 at 2 p.m. (EST) at the Sheraton Woodbridge Place Hotel, located at 515 Rte. One South, Iselin, N.J.
The reader is advised that this release contains forward-looking statements of the company and that a variety of factors could cause the company's actual results and experience to differ materially from the anticipated results of their expectations expressed. Additional information regarding those factors is available upon request.
The foregoing release and the information contained therein was prepared solely by the management of Archer Systems Ltd. Inc., its subsidiaries and affiliates, who furnished the same to Market Pathways Financial Relations Inc. for release.