eNucleus Acquires Applitech Solution Limited.CHICAGO -- eNucleus, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : ENUI.OB), a provider of high-quality, proprietary supply chain software and service solutions, announced today that it has closed on the acquisition of Applitech Solution Limited, a privately held global provider of software and IT Services. Under the agreement, eNucleus purchased customer contracts, accounts receivables accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying , and software for total consideration of 1.0 million shares of eNucleus common stock, 350,000 five-year warrants at a strike price of $0.40, plus a deferred cash payment that will be equal to one half of the net earnings of those assets in 2005 to a maximum of $2.5 million. John Paulsen, 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 eNucleus said, "This acquisition, following on last year's purchases 1. The amount that is yielded by the annual income of property; - used in expressing the value of a thing in the number of years required for its income to yield its purchase price, in reckoning the amount to be paid for annuities, etc. of TenderCity and Frontier Technologies, represents the last in a string of assets we sought when we started looking at a specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. pool of technological applications and services in India. Having now purchased the remainder of the targeted assets, as we integrate them all into our business, we expect the value we derive will ultimately exceed the price we paid for the parts, thus generating additional value for our shareholders." Applitech Solution Ltd., a privately held software and services company based in Ahmadabad, India, was established in 1993, to provide a range of services and software covering IT Consulting, Engineering and Systems Integration Services, ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. Implementations, and Application Development. The company had revenues of $7 million in 2004. About eNucleus eNucleus (www.enucleus.com) is a supply-chain management applications company that delivers proprietary software solutions via license and managed hosting for the Global 1000 and the SME (1) (Small and Medium-sized Enterprise) See SMB. (2) (Subject Matter Expert) An individual who is well-versed in the policies and procedures of a particular department or division. marketplace. The seamless and immediate exchange of critical business information provided by our software solutions allows our clients to run their businesses with maximum efficiency and profitability. For more information on eNucleus solutions, go to www.enucleus.com. 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. The information contained in this press release, including any "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 contained herein, should be reviewed in conjunction with the Company's annual report, financial filings and other publicly available information regarding the Company, copies of which are available from the Company upon request as well as with its periodic SEC filings. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company. |
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