Evans & Sutherland Completes Acquisition of Spitz Inc.SALT LAKE CITY -- Evans & Sutherland Computer Corp. (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 : ESCC ESCC Eastern Shore Community College ESCC East Sussex County Council ESCC Esophageal Squamous Cell Carcinoma ESCC Enhanced Serial Communication(s) Controller ESCC Electrically Self-Calibrating Cavity ) today reported that it has completed the acquisition of Spitz spitz Any of several northern dogs, including the chow chow, Pomeranian, and Samoyed, characterized by a dense, long coat, erect pointed ears, and a tail that curves over the back. In the U.S. Inc. as of April 28, 2006. E&S acquired the stock of Spitz Inc. from its parent company, Transnational Industries Inc. The purchase price was approximately $3.4 million. E&S had previously announced that it would acquire Spitz while also divesting its simulation business to Rockwell Collins Rockwell Collins, Inc. (NYSE: COL) is a large United States-based international company headquartered in Cedar Rapids, Iowa, primarily providing aviation and information technology systems, solutions, and services to governmental agencies and aircraft manufacturers. Inc. The Rockwell Collins transaction has not yet closed. "We believe the joining of these two companies is an important development in our industry," said James R. Oyler, president and 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 Evans & Sutherland. "E&S and Spitz are now able to provide our customers the finest combination of products, technology and services, together with the largest library of digital show content for planetariums, science museums and educational venues throughout the world," continued Oyler. "Spitz has developed high-quality and cost-effective educational planetarium planetarium, optical device used to project a representation of the heavens onto a domed ceiling; the term also designates the building that houses such a device. A modern planetarium consists of as many as 150 motor-driven projectors mounted on an axis. products since 1945," said Jon Shaw Jonathan Steven "Jon" Shaw (born November 14, 1983 in Sheffield, England) is an English footballer, currently playing for Halifax Town as a forward. Career Sheffield Wednesday , president and CEO of Spitz Inc. "By joining E&S, we will continue this tradition with greater access to advanced digital and projection technologies. We believe our joint customers will enjoy the very best of both companies." Evans & Sutherland produces professional hardware and software to create highly realistic visual images for digital theater and other applications throughout the world. The company has recently introduced its laser projector for ultra-high resolution projection requirements in simulation, digital theaters and other high-end projection applications. Headquartered in Salt Lake City, the company employs approximately 275 professionals worldwide. Additional information is available at www.es.com. Spitz Inc. specializes in planetarium theaters, projection domes, architectural domes and custom immersive theater attractions. Spitz is the world's leading projection dome supplier with more than 1,200 installations worldwide. Located near Philadelphia, Spitz has approximately 60 employees. Additional information is available at www.spitzinc.com or www.es.com. Statements in this press release which are not historical, including statements regarding E&S's or management's intentions, hopes, beliefs, expectations, representations, projections, plans, or predictions of the future are 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 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. These include statements that E&S and Spitz are now able to provide customers the finest combination of products, technology and services, together with the largest library of digital show content for planetariums, science museums, and educational venues throughout the world and that by combining E&S and Spitz, customers will have greater access to advanced digital and projection technologies. It is important to note that actual results could differ materially from those in any such forward-looking statements. Various factors could cause actual results to differ materially, such as the risk factors listed from time to time in E&S's SEC reports. E&S is a registered trademark of Evans & Sutherland Computer Corp. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion