Cybersurf Weds WAN.CALGARY, Alberta--(BUSINESS WIRE)--Nov. 12, 1996-- Cybersurf Corp. (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : CY) of Calgary, Alberta, an Internet technology and service company, is pleased to announce today that it has signed a binding letter of commitment to acquire 100 percent of the shares of a private Canadian-based wide area network (WAN) installation and sales company. "This deal immediately takes our company from a regional internet provider Internet provider - Internet Service Provider to a broad-based networking telecommunications company See telecom company. able to meet the needs of the Fortune 500 companies and foreign trade representatives that we have been in discussions with in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and California. In fact, Cybersurf expects to finalize one or more of its pending US contracts by the New Year," said Gary Gardner, President of Cybersurf. The acquisition is the culmination of several months of negotiations and a two week 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. period is in place for both parties to finalize corporate and legal requirements. The company will remain unnamed during the due diligence period for competitive reasons. The Letter of Commitment locks the management of the WAN into a minimum three year contract and Cybersurf anticipates that a complete return of the company's investment will occur within one year. The details of the purchase agreement will be announced when finalized. The WAN's technical and sales expertise exceeds twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. of experience. During this time a significant contract base in Western Canada
Western Canada, commonly referred to as the West and long-standing, professional relationships with the largest hardware companies in 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. were established. The synergies of the two companies enable Cybersurf to capitalize on its existing technical infrastructure and augment it with diversified hardware platforms within a proven sales/marketing approach. In its pursuit of building of state-of-the-art "new age" telecommunications company, Cybersurf will make additional key acquisitions. Prior to year-end, Cybersurf intends to purchase an established software company and a computer graphics/adverting company. Negotiations for each acquisition are currently taking place and it is anticipated that binding letters of commitment will be announced early in the New Year. The Alberta Stock Exchange has neither approved or disapproved of the above release. CONTACT: Cybersurf Corp. Richard LeBlanc, 403/777-2000 INTERNET: http://www.cia.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion