Ethika Corp. acquires Compass Data Systems Inc.HILTON HEAD ISLAND Hilton Head Island An island off the southern coast of South Carolina in the Sea Islands of the Atlantic Ocean. It is a popular tourist resort. The town of Hilton Head Island, on the northeast coast, has a population of 35,200. , S.C.--(BUSINESS WIRE)--Aug. 20, 1996--Ethika Corp., headquartered on Hilton Head Island, S.C., today announced the purchase of Compass Data Systems, Inc. of Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. . The transaction was completed through an exchange of corporate stock. Compass Data Systems is an innovative electronic information publisher. It provides turnkey reference services to a wide variety of industries and organizations. Among its principal product offerings are state tax law reference libraries which keep subscribers current on critical tax law changes. Compass Data Systems is the second acquisition in the electronic publishing An umbrella term for non-paper publishing, which includes publishing online or on media such as CDs and DVDs. field consummated by Ethika Corp. this year. In April the corporation completed the purchase of Text Retrieval Systems, Inc. of Ponte Vedra Beach, Fla. Text Retrieval Systems is a growing manufacturer and marketer of electronic reference libraries in labor law labor law, legislation dealing with human beings in their capacity as workers or wage earners. The Industrial Revolution, by introducing the machine and factory production, greatly expanded the class of workers dependent on wages as their source of income. , retailing and public housing. S. Leroy Reed, Jr., Chairman of the Board of Ethika, stated, "The acquisition of Compass Data Systems compliments our recent purchase of Text Retrieval Systems. This is an important step in building a critical mass in the growing electronic publishing industry. We will continue to seek other acquisitions which offer strong growth opportunities." Compass Data Systems President, Eric R. Fredrickson, added, "We are very pleased that Ethika Corporation has elected to expand its base of operations Noun 1. base of operations - installation from which a military force initiates operations; "the attack wiped out our forward bases" base air base, air station - a base for military aircraft army base - a large base of operations for an army into the Salt Lake City area. This new affiliation will allow our Company to take advantage of growth opportunities that would not have been available otherwise." Ethika Corporation recently changed its name from Dixie National Corporation. The action was necessitated as the Corporation moved from its former regional insurance business and redirected its efforts to more promising areas of applied technology. Its new 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 symbol is ETKA ETKA Elektronischer Teilekatalog (Electronic Spare Parts Catalogue) . CONTACT: Ethika Corporation, Hilton Head Island G. Thomas Reed, 803/785-7850 |
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