Carnegie International Corporation to Acquire Assets of RomNet of Boston.BALTIMORE--(BUSINESS WIRE)--Nov. 3, 1998--Carnegie International Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BB CAGI), a holding company specializing in telecommunications and telephony products and services, has signed a preliminary agreement to acquire the assets of RomNet(tm), of Boston, Mass., a division of the J-Net Group, Inc. RomNet provides technical support services via telephone fax and e-mail from its Boston call center for a variety of software products, utilizing skills and expertise of graduate and undergraduate students from Harvard, the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , and Boston University. RomNet's technical focus includes MS-DOS(R), Windows(R), Macintosh(R) and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). (R) platforms, as well as creating visual and audible Web sites that support and offer information for customers and prospects. Established in 1993, RomNet supports more than 100 products from various software and hardware companies. Its prestigious client list includes Arthur Anderson LLP, American College of Cardiology The American College of Cardiology (ACC) is a nonprofit medical association established in 1949 to educate, research and influence health care public policy. The president for the 2006–2007 year is Steven E. Nissen. [1] The organization has 39 chapters in the U.S. , Yahoo! Store (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 : YHOO), Macmillan Publishing, Hammond, Inc., and Pitney Bowes (NYSE NYSE See: New York Stock Exchange : PBI PBI protein-bound iodine. PBI abbr. protein-bound iodine PBI, n See iodine, protein-bound. PBI protein-bound iodine. ). RomNet's revenues for 1997 were approximately $1.4 million. Carnegie expects a closing by November 30, 1998. Additional information on RomNet is available at its Web site (www.romnet.com). The agreement to acquire RomNet by Carnegie is subject to approval of the J-Net Group's Board and completion of final purchase and sale documents. RomNet will become a wholly-owned subsidiary Based in suburban Baltimore, Carnegie has three wholly-owned subsidiaries which focus primarily on telephone and voice-recognition technology, vertically integrating its technical support services for MAVIS (for Multi-language Automated Voice Independent System) distribution. "The acquisition of RomNet, which will continue to operate at itse. "In addition, acquiring RomNet provides key technical support services for our MAVIS rollout." Annetta Douglass, president 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. of the J-Net Group, commented tion, reference and professional marketplaces." en MAVIS interface is available in English and ries include: Profit Through Telecommunications (Europe) Ltd. (PTT (1) (Postal, Telegraph & Telephone) The governmental agency responsible for combined postal, telegraph and telephone services in many European countries. (2) See push-to-talk. PTT - Post, Telephone and Telegraph administration ), a telecommunications software company providing business solutions utilizing proprietary speech recognition, touch tone and bar code responses to send and/or receive information; Talidan, a reseller marketing telephone time and information at discounted rates in Europe, South America, and other emerging markets, and ACC See adaptive cruise control. Telecom of Columbia, Maryland, a leading reseller of equipment and business telephone systems from Comdial (NASDAQ: CMDL), SONY(R) (NYSE: SNE), Bell South (NYSE: BLS) and Sprint(R) (NYSE: FON). For the first half of fiscal 1998 ended June 30, Carnegie reported total income of $8.9 million and after-tax basic earnings per share of $0.075. For fiscal 1997, Carnegie reported total income of $6.9 million and after-tax basic earnings per share of $0.07. 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 provides a "safe harbor" for forward-looking statements. Certain information included in this Press Release (as well as information in oral statements or other written statements made or to be made by Carnegie International Corporation) contain statements that are forward-looking, such as statements relating to the future anticipated direction of the telecommunications industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Carnegie International Corporation. These risks and uncertainties included, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, change in Federal or state laws, and market competition factors. MAVIS is a trademark of Carnegie International Corporation. RomNet is a trademark of RomNet. Other trademarks are properties of their respective owners. |
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