CBQ, Inc. To Acquire Quantum Technology Group; Acquisition Will Bolster China Software Initiatives.Business Editors/Hi-Tech Writers WASHINGTON--(BUSINESS WIRE)--Aug. 8, 2000 CBQ See traffic engineering methods. Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CBQI-news) the E-Business Marketplace, announced today that it has acquired Quantum Technology Group (www.qnettech.com), a Baltimore-based, rapidly growing, regional full service provider of Information Technology and e-Business infrastructure. Quantum is the third largest e-Business provider in the Baltimore area. The acquisition will position CBQ as a major competitor in the e-business infrastructure market, which is projected to reach $204 billion this year and $348 billion by 2003, and the IT outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. market, which is projected to reach $110 billion in 2003. Quantum Technology Group provides a full range of network services, software development, and web-based solutions, as well as information technology outsourcing Information Technology Outsoucing or ITO is a company's outsourcing of computer or Internet related work, such as programming, to other companies. It is used in refence to Business Process Outsourcing or BPO, which is the outsourcing of the work that does not require so much resources. As an infrastructure service provider designing and marketing custom software and services to businesses enagaged in the wider Internet world, Quantum will bolster the software development efforts of CBQ, Inc. in China and other markets. Quantum also possesses proprietary software solutions that have national markets. Quantum anticipates that its annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue will exceed $14 million for 2000. Quantum services large corporate clients primarily in the Mid-Atlantic region and throughout the 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. . CBQ, Inc. will acquire 100 percent of the shares of Quantum for shares of CBQ common stock. "We are delighted with the acquisition of the Quantum Technology Group," said Bart S. Fisher, Chairman of CBQ, Inc. Our goal is to become the number one full service provider for the e-Business/e-Enterprise market in the mid-Atlantic region," Fisher said. "The larger presence of CBQ in the U.S. software market will enhance our ability to execute our business plan in China, and provide a competitive edge in the U.S. marketplace," Fisher said. "The acquisition should allow CBQ, Inc., under current projections, to enter a profitable position by the first quarter of 2001," Fisher said. "Quantum Technology Group is looking forward to becoming the operating engine that will take advantage of CBQ's vast intellectual property in China. Moreover, we are aggressively pursuing additional acquisition targets to expand CBQ's range of e-Business services," said John Moran John Moran is an American composer, author and choreographer. He was born in Lincoln, Nebraska, in 1965. John Moran has generally been considered the protege of composer Philip Glass. , President of the Quantum Technology Group. About CBQ, Inc. CBQ, Inc. The E-Business Marketplace is a total end-to-end provider for implementing customer-driven e-business solutions. Through its subsidiaries, Quantum Technology Group, Reliance Technologies, Inc. and Priority One Electronic Commerce Corp., it provides a full range of networking services, software development, and web-based solutions, as well as information technology outsourcing resources. For more information on Quantum Technology Group, visit www.qnettech.com. ChinaSoft, Inc. is a wholly-owned subsidiary of CBQ, Inc. that is a joint venture partner with CCSoft Technology Developing, Ltd. Its services include Software Development for Enterprise computing Refers to information technology in the larger company. See enterprise data and enterprise networking. and Internet development. For more information about CCSoft, visit www.ccsoft.com.cn. China Wireless, Inc. is a subsidiary that is developing telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. projects in China. China Partners is a subsidiary that facilitates international trade and investment opportunities between companies in the United States and China. For more information on CBQ, Inc., visit www.cbq.com. This news release includes 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. related to CBQ Inc. that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe-harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. For further information about these factors that could affect CBQ's future results, see the company's filings with the Securities and Exchange Commission (the "Commission"). Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations. |
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