Datatec Systems Secures $21 Million Financing From IBM Credit Corporation.Business & High Tech Editors FAIRFIELD, N.J.--(BUSINESS WIRE)--Nov. 16, 2000 Datatec Systems, Inc. (Nasdaq: DATC DATC Davis Applied Technology College (Kaysville, Utah) DATC Days After Test Completion DATC Deferred Adverse Tax Consequence DATC Direct Assistance & Training Command DATC Director of Air Traffic Control ), announced today that it has secured a $21 million financing arrangement with IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Credit Corporation, replacing its existing financing vehicle with Finova Capital Corporation. The new IBM arrangement provides for an increase of $5m in borrowing capacity, at more favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. interest rates. Datatec plans to use the increased funding to support its projected sales growth and committed strategy of investment in the further research and development of software tools that automate the configuration and integration process of networking technologies. Isaac Gaon, Datatec's Chairman and Chief Executive Officer commented, "We are fully committed (Law) committed to prison for trial, in distinction from being detained for examination. See also: Fully to growing our indirect channel model on a global scale. This boost will assist us in accelerating those efforts, especially within our newly-launched Global Integration Services (GIS (1) (Geographic Information System) An information system that deals with spatial information. Often called "mapping software," it links attributes and characteristics of an area to its geographic location. ) subsidiary." About Datatec Systems, Inc. Fairfield, NJ-based Datatec Systems specializes in the rapid, large scale market absorption of networking technologies. Datatec's deployment services utilize a software-enabled implementation model to configure, integrate and roll out new technology solutions using a "best practices" structured process. Its customers include Fortune 1000 companies and world-class technology providers. Datatec stock is listed on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (DATC). For more information visit Datatec at http://www.datatec.com About eDeploy.com, Inc. eDeploy.com, a subsidiary of Datatec Systems, Inc., is a recognized leader in the development and delivery of business-to-business e-commerce tools and processes that allow OEMs, systems integrators and service providers to configure and deploy complex network infrastructure and computing technologies faster, more economically and with fewer defects. eDeploy(TM) is a set of web-based business-to-business productivity tools that enhance process management for any deployment. The system serves as a central repository for all intellectual assets related to a project. These assets can be shared among project team members, customers and third parties. eDeploy(TM) leverages the power and ubiquity Ubiquity See also Omnipresence. Burma-Shave their signs seen as “verses of the wayside throughout America.” [Am. Commerce and Folklore: Misc. of the Internet by acting as a secure virtual project community for all parties to deliver a solution. For more information, visit http://www.edeploy.com This Press Release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties which may cause the actual results or objectives to be materially different from those expressed or implied by such forward-looking statements. |
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