Concurrent Computer Corp. to sell its Oceanport, N.J. facility.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--Oct. 8, 1996-- Concurrent Computer Corp. (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 :CCUR CCUR Center for Crops Utilization Research ) Tuesday announced that it has entered into a contingent purchase and sale agreement providing for the sale and partial lease-back of its Oceanport, N.J. facility to G.B. Ltd., L.L.C. The transaction is expected to close by calendar year-end. Under the terms of Concurrent's agreement with its lender, 75% of the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the $5.0 million sale price will be used to prepay the company's outstanding loan balance. The remaining net proceeds will then be available for working capital purposes. G.B. Ltd., L.L.C. is a real-estate investment and management firm headquartered in New Jersey. Concurrent Computer Corp., headquartered in Fort Lauderdale, is a leading supplier of high-performance real-time computer systems, software and solutions to commercial and government markets. The company focuses on strategic business areas such as: simulation; data acquisition; instrumentation & process control; telecommunications; interactive real-time consisting of video- on-demand and wagering & gaming; and vibration control. Operating in 22 countries worldwide, they provide sales and support from offices throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, and Asia, as well as through authorized distributors, resellers and representatives. Products are designed, manufactured and distributed directly from the company's 228,000 square-foot facility. For additional company or product information from Concurrent Computer Corp. via fax, call 1/888-286-6418 or visit our website at http://www.ccur.com -0- NOTE TO EDITORS: In the World Wide Web address noted in this news release, there is a double slash between http: and www.ccur.com. These symbols may not appear properly in some systems. CONTACT: Concurrent Computer Corp., Fort Lauderdale Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. Beth Alonzo 954/973-5100 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion