Communications and Entertainment Corp. makes announcement.NEW YORK--(BUSINESS WIRE)--Jan. 19, 1995--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) ), announced today that its majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. , Global Intellicom Inc. ("Global") executed a letter of intent to acquire the assets of Adaptive Strategies Inc. ("Adaptive") of Cherry Hill, N.J., for a total purchase price of $6.5 million based upon a percentage of Adaptive's net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight payable in installments over a five-year period, plus an assumption by Global of certain of the liabilities of Adaptive. Adaptive Strategies develops, integrates and supports Mobile Computing Software that provides notebook and laptop computer users with the ability to subscribe to, access and exchange information with corporate, commercial and other databases on the information highway. The company's primary software product is MOBILESNYC, an information exchange graphical user interface graphical user interface (GUI) Computer display format that allows the user to select commands, call up files, start programs, and do other routine tasks by using a mouse to point to pictorial symbols (icons) or lists of menu choices on the screen as opposed to having to with one-botton access that operates under Windows NT and communicates through the AT&T global information network. The letter of intent is subject to the execution by the parties of a definitive agreement by April 15, 1995, the satisfactory completion by Global of its due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. investigation and the requisite corporate approvals. Tony Cucchi, President of Global, stated that the acquisition of Adaptive allows Global to become a source for its customers' software requirements as well as supplying its customers with state of the art mobile computing systems. CONTACT: ComEnt Shane O'Neil, 212/486-3999 or Global Tony Cucchi, 610/524-6900 or Adaptive Bob Land, 609/482-7886 |
|
|||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion