Communications & Entertainment Acquires AmCom for Cash & Notes; AmCom doing $30 Million in Sales with $1 Million Net.NEW YORK--(BUSINESS WIRE)--November 14, 1994--The Communications and Entertainment Corp. (ComEnt: 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 : CECO CECO Council of Engineering Companies of Oregon CECO Cost Estimate Change Order CECO Center for Economic and Community Outreach CECO CENTCOM Engineer Contingency Organization CECO Concrete Engineering Company of Omaha (Ceco Concrete Construction LLC) , CECOA) today announced that its subsidiary MobileCom executed a contract to acquire AmCom Business Centers Inc. of West Chester West Chester, borough (1990 pop. 18,041), seat of Chester co., SE Pa., W of Philadelphia; inc. 1799. Primarily residential, West Chester was long the trade and processing center for an agricultural region that is now mainly suburbs. , Pa., for $5 million in cash and notes. AmCom is a private company that distributes wireless data transmission equipment, an extensive line of laptop and notebook computers A laptop computer that weighs in a range from five to seven pounds. The term originated when laptops were routinely more than 10 pounds, and those that became lighter were placed in a special "notebook" category. In practice, notebook computer and laptop computer are synonymous. , cellular workstations and personal communicators A concept for a handheld device that was co-created by Toronto engineer Robert J. Fraser in 1991, who also coined the term. The personal communicator was conceived to provide always-on, wireless connectivity to a nationwide, packet-switched communications network that would enable mobile nationwide. These devices are part of a new product category that combines communications capabilities with high performance computing engines. They provide all of today's mobile technologies and tools including cellular voice and data, portable fax, wireless modem A modem and antenna that transmits and receives over the air. Wireless modems support several technologies, including 802.11, Bluetooth, CDPD, DataTAC, Mobitex and Ricochet. There are wireless modems for laptops, handhelds and cellphones. , satellite paging and pen-based personal assistants. AmCom has current annual revenues of $30 million and net income of $1 million. Shane O'Neil, President of ComEnt stated that, "The acquisition of AmCom, which will be completed within ninety days, is part of ComEnt's continuing plan to expand its communications and entertainment-related businesses. The relative infancy of the wireless data transmission market and the exceptional management this company has allow us to take advantage of the opportunities that exist in this industry." Another subsidiary of ComEnt, Odyssey Entertainment Ltd., confinances and distributes independent American motion pictures to international theatrical, television, satellite and home video markets. CONTACT: Shane O'Neil, 212/486-3999
or
Janet Ghio, 213/655-9335
or
H.L. Lanzet Inc.
Herbert Lanzet or
Paul Holm, 212/687-0061
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