Dauphin to Acquire Suncoast Automation.Business Editors PALATINE, Ill.--(BUSINESS WIRE)--May 24, 2001 Dauphin Dauphin, town, Canada Dauphin (dô`fĭn), town (1991 pop. 8,453), SW Man., Canada, on the Vermilion River. It is the retail and distribution center for an agricultural, lumbering, and fishing area. Technology Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). .BB: DNTK) announced today that it has entered into a letter of intent with ProtoSource 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 : PSCO PSCO Public Service Company of Colorado PSCO Philadelphia Seminar on Christian Origins PSCO Public Service Company of Oklahoma PSCO Presidential Commission on Sexual Orientation (NIU) PSCO Personnel Survey Control Officer ) to purchase all the assets of Suncoast Automation, a subsidiary of ProtoSource. Suncoast, a Florida-based provider of private, interactive cable systems, currently has nearly 4000 units under long-term contracts to provide a bundled package of basic cable TV, premium programming, video games and high-speed Internet access to the extended stay hospitality industry. "Dauphin's entry into the set-top box business entailed a niche market strategy. The convergence of our technology and Suncoast's bundled services system creates the only total solution available in the hospitality segment, which is growing 15% annually," commented Christopher Geier, Dauphin's Executive Vice President. Suncoast's system and proprietary software includes a customized interface integrated into the operator's property management system, as well as streamlined billing and collection of key marketing intelligence on each guest's usage and purchasing trends. "We intend to have an installed base of more than 11,000 units by the end of this year, exceeding more than 40,000 units next year. We are excited to move STB's through this channel," Geier went on to say. "Although we still feel strongly about Suncoast's business model, Dauphin's set-top box strategy is a natural fit for Suncoast's interactive cable TV system," said Bill Conis, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ProtoSource. According to the letter of intent, the deal will be a straight acquisition of assets Acquisition of assets A merger or consolidation in which an acquirer purchases the selling firm's assets. without the assumption of any outstanding liabilities. The transaction is expected to close some time next month. About Dauphin Technology, Inc. Dauphin Technology, Inc., a Palatine, Illinois based technology company with its facilities in McHenry, Illinois, and Schaumburg, Illinois, develops and markets broadband communication products and hand-held, pen based computers. About ProtoSource Corporation ProtoSource Corporation (NASDAQ: PSCO; PSCOW; PSCOZ), a full-service, publicly traded, Internet solutions provider, is committed to delivering outstanding service and support to its customers, community, employees and shareholders. Through its Fresno-based, psnw.com division, it offers business and residential DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary , Web site design, development and hosting and outsourced technical support for Internet Service Providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISPs). Certain matters discussed in this news release are forward-looking statements involving certain risks and uncertainties including, without limitations, changes in product demand, the availability of products, change in competition, economic conditions, various risks due to changes in market conditions and other risks detailed in the Company's Securities and Exchange Commission filings and reports. |
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