Conolog Signs Letter of Intent to Acquire Independent Computer Maintenance Corporation; Acquisition Expected to Add $2.0 Million to Conolog Revenues in 2001.Business/Technology Editors SOMERVILLE, N.J.--(BUSINESS WIRE)--April 27, 2000 Conolog Corporation (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 : CNLG, CNLGW), an engineering and design company that provides digital signal processing See DSP. Digital Signal Processing - (DSP) Computer manipulation of analog signals (commonly sound or image) which have been converted to digital form (sampled). solutions (DSP (1) (Digital Signal Processor) A special-purpose CPU used for digital signal processing applications (see definition #2 below). It provides ultra-fast instruction sequences, such as shift and add, and multiply and add, which are commonly used in math-intensive ), announced today that it has signed a letter of intent to acquire Independent Computer Maintenance Corporation, located in Clifton, New Jersey Clifton is a city in Passaic County, New Jersey, United States. As of the United States 2000 Census, the city had a total population of 78,672. Clifton was incorporated as a city by an Act of the New Jersey Legislature on April 26, 1917, replacing Acquackanonk Township, , for a combination of cash and stock. Details of the proposed transaction were not disclosed. The closing of the proposed transaction is conditioned upon, among other things, the execution of an Agreement of Purchase by the parties, Conolog's completion 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. review of Independent Computer Maintenance Corporation, the completion of audited financial statements of Independent Computer Maintenance Corporation, and approval of the transaction by Conolog's Board of Directors. Independent Computer Maintenance Corporation provides installation, maintenance and troubleshooting of commercial and corporate computer systems and networks in the greater New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. . Its projected revenues for fiscal 2001 are $2.0 million. Robert Benou, Conolog's president, commented, "The acquisition of Independent Computer Maintenance Corp will add tremendous value to our client services. We will gain the resources we need to provide superior installation, maintenance and support of our systems to new customers and our existing client base." Anthony Natoli, president of Independent Computer Maintenance Corporation, stated, "We look forward to becoming part of the Conolog corporate family, and to bringing our very specialized capabilities to a broader pool of clients." Conolog Corporation is an engineering and design company primarily engaged in providing engineering and technical personnel, and manufacturing a line of digital signal processing systems, including transmitters, receivers and multiplexers, under the INIVEN trade name. Forward-looking statements in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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