Aztec Technology Partners Acquires Boston-Based Software Development & Network Design Firm.BOSTON--(BUSINESS WIRE)--Oct. 5, 1998-- Expands software development services in the Northeast and West Coast and compliments open systems consulting solutions Aztec Technology Partners, 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 :AZTC), a leading single source provider of information technology business solutions, today announced the acquisition of SolutionsETC, an IT consulting company Noun 1. consulting company - a firm of experts providing professional advice to an organization for a fee consulting firm business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a specializing in software, operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. and real-time development, database design and analysis, and customized technical training. As a result of the transaction, which included $12 million in cash and an additional earnout potential over the next three years, SolutionsETC became a wholly-owned subsidiary of Aztec Technology Partners. Based in Woburn, MA near Boston, SolutionsETC has a strong customer base in the technology and banking industries including giants like Oracle, Digital Equipment, MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. and Hughes. "We are continuing to add IT enterprise-wide consulting companies which focus on Internet development and knowledge management," comments James Claypoole, 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. , Aztec Technology Partners. "SolutionsETC is an outstanding compliment to Aztec because of their concentration in high-end consulting and design, and their strong financial performance." "SolutionsETC is excited about becoming part of Aztec Technology Partners," explained Ahmad Shreatech, president of SolutionsETC. "We share the same mission to help clients use technology to achieve their strategic business goals. "There is a substantial synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. between SolutionsETC and Aztec, and we believe our clients will benefit immensely from the broad range of enterprise services we can now offer them through Aztec." About SolutionsETC SolutionsETC was founded in 1988, to help clients successfully manage change in the information technology environment. The company provides IT consulting expertise in database design and optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. , operating systems, and network design and management. SolutionsETC focuses on the design and development of solutions to address the most difficult technical challenges on client IT projects. The company has offices in Massachusetts and California. About Aztec Technology Partners Aztec Technology Partners is a single-source provider of a broad range of information technology business solutions. Through a team of over 1000 IT consultants and a network of technology providers, Aztec offers `one-stop' IT solutions with exceptional personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. service. Aztec's primary focus is the mid-market sector, as well as Fortune 1000 companies, in a wide range of industries including communications, health care, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , government, manufacturing, pharmaceuticals, professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. and technology. The company has 19 offices in 11 U.S. states A U.S. state is any one of the fifty subnational entities of the United States, although four states use the official title "commonwealth". The separate state governments and the federal government share sovereignty, in that an American is a citizen both of the federal entity and , and employs 1400 professionals. Aztec is publicly traded on the NASDAQ National Market under the symbol AZTC. This press release contains "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. ," within the meaning of federal securities laws, that involve risks and uncertainties. All statements herein, other than those consisting solely of historical facts, that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as business strategy, measures to implement strategy, competitive strengths, goals, references to future success and other events, may be forward-looking statements. Statements herein are based on certain assumptions and analyses by the Company in light of its experience and its perception of historical trends, current conditions and potential future developments, as well as other factors it believes are appropriate In the circumstances. However, whether actual results, events and developments will conform with the Company's expectations is subject to a number of risks and uncertainties and important factors could cause actual results, events and developments to differ materially from those referenced in, contemplated by or underlying any forward-looking statements herein, including, among others, the continued development and viability of the Company's operations, the Company's ability to manage its growth, the impact of industry and economic conditions, competition and other factors, many of which are beyond the control of the Company. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. |
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