Comarco acquires R.A.L. Consulting and Staffing Services Inc.YORBA LINDA Yorba Linda (yôr`bə lĭn`də), city (1990 pop. 52,422), Orange co., S Calif., in a region of citrus fruit; inc. 1967. The city has grown tremendously along with the southern California area; its population increased fivefold between , Calif.--(BUSINESS WIRE)--Aug. 1, 1996--Comarco 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 :CMRO CMRO Current Medical Research and Opinion (journal) CMRO Concerned Motorcycle Riders of Ohio CMRO Canadian Mud Racing Organization CMRO Certified Medical Review Officer CMRO Complex Maintenance, Repair & Overhaul ) Thursday announced that it acquired the assets of R.A.L. Consulting and Staffing Services Inc., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. located in Victorville, Calif. R.A.L. provides engineering, technical and other personnel to commercial customers in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . R.A.L.'s revenues for the last 12 months exceeded $8 million. Comarco formed a new, wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , CoSource Solutions Inc., to purchase R.A.L.'s assets. Robert Lovingood, R.A.L.'s president and sole shareholder, will become president of CoSource Solutions. The acquisition is effective today. "This acquisition allows Comarco to expand on experience gained staffing and managing its government business," stated Don M. Bailey, president and chief executive officer of Comarco. "The commercial employee staffing industry is growing at a rate of 15 percent a year and Mr. Lovingood and his staff bring us a wealth of experience serving that industry. "In six years his team has grown R.A.L. from a start-up to its current level." "I am very excited about joining forces with Comarco," added Lovingood. "Comarco will provide a valuable capital, administrative and business foundation for our continued growth. In addition, as part of Comarco, we will be able to serve our customers even better. I am committed to expanding this enterprise further." -0- NOTE: Comarco Inc. provides wireless communications products, as well as engineering, management and training services to the public and private sectors. CONTACT: Comarco Inc. Don M. Bailey, 714/282-3813 Shareholder Info., 714/282-3825 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion