CompLink signs definitive agreement with The Netplex Group and America's Work Exchange.GREAT NECK, N.Y.--(BUSINESS WIRE)--Nov. 21, 1995--CompLink Ltd., (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 Small Cap, Symbol: CLNK) a provider of electronic messaging See e-mail and messaging system. and work-flow technology products and services, today announced that it has entered into a stock-for-stock merger agreement with The Netplex Group Inc. (Netplex) and its affiliate, America's Work Exchange Inc. (AWE). Upon consummation of the merger, the shareholders of AWE and Netplex will receive approximately 3,250,000 shares or 50.4% of the then outstanding shares of CompLink. The merger is subject to shareholder approval of all companies and certain other conditions. Netplex is a network systems integrator specializing in applying work-flow technologies and networked systems management solutions to the commercial and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. marketplace. AWE provides contracted professional technical talent to organizations seeking to outsource technical support, project tasks, or simply augment their information services See Information Systems. staff. Gene Zaino The creator of this article, or someone who has substantially contributed to it, may have a conflict of interest regarding its subject matter. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. , chairman and chief executive of Netplex and AWE, will become the chairman, president and chief executive officer of CompLink Ltd. Zaino started his career at KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen Peat Marwick. He was a founding partner of Evernet Systems Inc. which was acquired by Control Data Systems Inc., in 1993. In January, 1994, Zaino left Control Data to pursue the development of Netplex and AWE. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Tony DeFrances, president of CompLink's subsidiary, Technology Development Systems Inc. (TDS TDS total dissolved solids. ), "this combination provides us with a complementary knowledge base and technical service capability which will help us continue to meet the increasing customer service demand created by our growing WorldLink product install base. Additionally, it will allow us to accelerate new product releases and take a greater role in providing integration services in WorldLink's large-scale mobile and remote communication infrastructure projects." Effective immediately, Zaino will be a consultant to CompLink in the capacity of chief executive officer. CompLink's current President, Neil Luden, will become the company's executive vice president. Luden emphasizes that "this merger furthers CompLink's quest to be a leader in providing work-flow-based technology solutions. This combination provides us with the market presence, management structure, and wherewithal to deliver total enterprise-wide solutions...from product development, to implementation, to ongoing support. I am pleased to have Mr. Zaino and his management team assist us as we enter our next stage of growth." "This transaction," states Zaino, "combines our professional service businesses with the capital and dynamics of CompLink's software product business, creating the type of company demanded by an increasingly sophisticated and services-oriented marketplace. We will produce market-driven products, deliver the professional skills to adopt the technologies, and provide the ongoing technical support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services which will enable our customers to focus on their core business." CONTACT: Rapport Associates Ltd. Jim Reed, 516/868-0515 |
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