NeoMedia Technologies, Inc. to Acquire CSI International, Inc., Private Canadian Company and Strategic Alliance Partner with DuPont.Business Editors/High-Tech Writers FT. MYERS, Fla.--(BUSINESS WIRE)--Nov. 10, 2003 NeoMedia Technologies, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: NEOM), today announced plans to acquire CSI CSI Crime Scene Investigator CSI CompuServe, Inc. CSI Commodity Systems, Inc. CSI Commodity Systems Inc. (Boca Raton, FL) CSI Crime Scene Investigation (CBS TV show) CSI Christian Schools International International Inc., of Calgary, Alberta, Canada, a private technology and products company in the micro paint repair industry, where NeoMedia plans to build on well-established inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ for sales of its technology to automotive and chemical multinationals. Charles T. Jensen, NeoMedia's president, COO and acting 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. , said a Letter of Intent has been signed outlining terms for the acquisition of CSI through a combination of cash ($3.5 million) and NeoMedia common stock (7 million shares). The acquisition is dependent on 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. by both companies. Strategic Alliance with DuPont "CSI has an ongoing strategic alliance with the Dupont(R) Automotive Finishing Division, plus other alliances and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and agreements in the international micro paint repair industry," said Jensen. Jensen said that following the completion of the acquisition, senior management and overall administrative functions, including accounting, legal, treasury and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , will be consolidated in Fort Myers Fort Myers, city (1990 pop. 45,206), seat of Lee co., SW Fla., on the Caloosahatchee River, near the Gulf of Mexico; founded 1850, inc. 1905. It has a tourist trade and light industry and is a shipping point for citrus fruits, winter vegetables, flowers (especially , with NeoMedia's current Board of Directors remaining unchanged. CSI, he said, would run day-to-day operations and provide on-site management in Calgary. Last month, NeoMedia completed acquisition of Secure Source Technologies, Inc., of Silver Spring, Maryland Not to be confused with Silver Springs. Silver Spring is an urbanized, unincorporated area in Montgomery County, Maryland, USA. After Baltimore and Columbia, Silver Spring is the third most populous Census Designated Place in Maryland. , a provider of security solutions and a pioneer in covert security technology for the manufacturing and financial services industries. The acquisition included seven U.S. patents and one Canadian patent. About NeoMedia Technologies, Inc. NeoMedia Technologies, Inc. (www.neom.com), is an innovator and international leader in print-to-Internet and other technologies which make information faster and easier to access, with expertise in homeland security and e-authentication applications. NeoMedia markets PaperClick(TM) and PaperClick For Cell/Mobile Phones(TM), which link physical information and objects to the Internet, and its Systems Integration Group specializes in providing expert-based IT consulting, hardware, and software solutions. About CSI International, Inc. CSI International Inc. (www.csi-intl.com) is a 13-year-old Canadian company based in Calgary, Alberta, specializing in products and services for the worldwide micro paint repair industry. Privately-held, CSI offers a system and processes utilizing proprietary technology. This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. PaperClick and PaperClick For Cell/Mobile Phones are trademarks of NeoMedia Technologies, Inc.. Other trademarks are properties of their respective owners. |
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