Black Box Corporation Announces Letter of Intent to Purchase the Network Infrastructure Services Division of Vista Information Technologies, Inc.Business Editors PITTSBURGH--(BUSINESS WIRE)--May 3, 2000 Black Box Corporation (Nasdaq:BBOX) today announced that it has signed a letter of intent to purchase the Network Infrastructure Services (NIS Niš or Nish (both: nēsh), city (1991 pop. 175,391), SE Serbia, on the Nišava River. An important railway and industrial center, it has industries that manufacture textiles, electronics, spirits, and locomotives. ) division of VISTA Vista (vĭs`tə), uninc. city (1990 pop. 71,872), San Diego co., SW Calif., near the Pacific coast, in an agricultural and resort area; inc. 1963. Information Technologies, Inc. Established in 1980 and headquartered in Pittsburgh, Pennsylvania “Pittsburgh” redirects here. For the region, see Pittsburgh Metropolitan Area. Pittsburgh (pronounced IPA: /ˈpɪtsbɚg/) is the second largest city in the Commonwealth of Pennsylvania. , NIS provides technical design, installation and maintenance services for premise cabling and related products in the Mid-Atlantic Adj. 1. mid-Atlantic - of a region of the United States generally including Delaware; Maryland; Virginia; and usually New York; Pennsylvania; New Jersey; "mid-Atlantic states" middle Atlantic and Mid-Western United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and several customers on a nationwide basis. Annual revenues of NIS are approximately $40 million. Closing is expected in May 2000. Commenting on the planned purchase, Fred C. Young, Chief Executive Officer of Black Box Corporation, stated, "We are very excited about NIS joining the Black Box Network Services Team. NIS has a well-established reputation as a high quality technical services provider. They will bring us new customers, experienced management and professionals, new geographic coverage and greater market share in many of our existing served markets. At $40 million in revenues, NIS will also be our single largest expansion to date." Peter J. Licata, President and Chief Executive Officer of VISTA, said, "The business strategies and cultures of the two organizations will allow for an extremely effective transition benefiting both employees and customers." Richard W. Suminski, Vice President and General Manager of NIS, said, "Joining the growing Black Box organization will afford our people new challenges and growth opportunities in addition to providing our customers with a nationwide platform for infrastructure installations." Black Box is a leading worldwide technical service provider of network services and related products to businesses of all sizes, servicing 132 countries throughout the world. VISTA Information Technologies, Inc. is a professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. and consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a delivering eBusiness solutions and eBusiness ready networks. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion