ComTec International Inc. signs acquisition agreement with DCL Associates Inc.DENVER--(BUSINESS WIRE)--June 25, 1996--ComTec International Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : NTEM), formerly known as Nattem USA Inc., announced today that the company signed an Acquisition Agreement on April 29, 1996, with DCL (1) (Digital Command Language) Digital's standard command language for the VMS operating system on its VAX series. (2) (Data Compression L Associates Inc. to acquire all of the SMR (Specialized Mobile Radio) The communications services used by police, ambulances, taxicabs, trucks and other delivery vehicles. Throughout the U.S., approximately 3,000 independent operators are licensed by the FCC to offer this service, which provides always-on Management/Option Agreements covering 2,450 XY channels. The transaction is expected to close on or before July 10, 1996. In addition to the Management/Option Agreements, ComTec will be petitioning the FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. for transfer of control of an Extended Implementation Plan granted to DCL Associates Inc. on Aug. 31, 1994. Under this plan, ComTec would be required to construct 10% of the channels by Dec. 31, 1996, 50% of the channels by Dec. 31, 1997, and the balance by Dec. 31, 1998. Don Mack, president and chief executive officer, stated: "This is a very significant transaction for ComTec and it will allow us to continue to develop services and products in the Specialized Mobile Radio See SMR. industry. This acquisition of channel options, once constructed, will allow ComTec to engage in wireless SMR activities in approximately 20 states." Mitchell Chi, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , stated: "This is the first of many acquisitions ComTec has under Letters of Intent. We are excited to be entering the SMR industry with such a sizable radio spectrum and will be pursuing additional opportunities in the wireless communication industry during the next six months." For further information, contact Donald G. Mack, president, or Mitchell B. Chi, chief operating officer, of ComTec International Inc. at 303/743-7983. CONTACT: ComTec International Inc., Denver Donald G. Mack or Mitchell B. Chi, 303/743-7983 |
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