SZL SPORTSIGHT, INC. ANNOUNCES ACQUISITION AGREEMENT OF EASTERN MICRO SYSTEMS AND SIGNING OF BANKING AGREEMENT WITH SFI INVESTMENT, INC.
NEW YORK, Oct. 6 /PRNewswire/ -- SZL Sportsight, Inc. (OTC: SZLSF; Vancouver Stock Exchange: SZL.V) announced today that the company has agreed to acquire Eastern Micro Systems, a West Palm Beach, Fla.-based computer manufacturing and service facility. SZL Sportsight will purchase the company for cash and notes valued at $160,000. Sportsight has agreed to close on or before Nov. 15, 1993. The Eastern Micro System operation will act as a base for future technical research, product development, system assembly and training. SZL Sportsight, Inc., a sports-technology and information company, leases its patented Supervision(TM) technology to network broadcasters and national advertising sponsors such as The Coors Brewing Company. Eastern Micro Systems, founded in 1986, provides a full range of computer services including sales, technical service, consulting, network systems and system training. Eastern Micro Systems is an authorized service agent for Novell, Okidata, Everex, Magnavox, Citizen, Computer Associates, Toshiba, Lotus, WordPerfect and others. With the acquisition of Eastern Micro Systems, SZL Sportsight seeks to expand and diversify its product offerings to expand into basketball, hockey, tennis and golf. Eastern Micro Systems is a privately held business that serves such South Florida clients as Florida Power & Light, Northern Telecom and Philips Components. Eastern Micro Systems revenues will exceed $1 million for 1993 and is projecting revenues between $1.2 million and $1.6 million for 1994. The SZL Sportsight acquisition of Eastern Micro Systems follows the acquisition of Hackers, Inc., by Sportsight, another South Florida-based high-tech research and development company specializing in R-F (radio-frequency) technology and tracking systems. "With this agreement, Sportsight will gain the technical support base for its marketing and research efforts to establish a leadership position in the emerging field of sports graphic enhancement," stated Edward J. Plumacher, Sportsight president. "I anticipate the Eastern Micro Systems acquisition to boost our earnings by as much as $0.02 a share for 1994." SZL Sportsight, Inc., also announced the signing of an agreement with SFI Investment, Inc., a New York-based firm, to provide investment banking services to obtain additional capital for future acquisitions and new business development. Over the past summer, Sportsight licensed its Supervision technology to The Coors Brewing Company of Golden, Colo., which is used as the "Silver Bullet Pitch Track" during broadcasts of the Colorado Rockies. The company also licensed Supervision to The Sunshine Network, for broadcasts during the Florida Marlins' 1993 home games. Supervision, by Sportsight, Inc., is a graphic ballistic-tracking and information gathering technology rendering a three-dimensional view of the ball's path, speed and trajectory from the point of the ball's release until it crosses home plate. SZL Sportsight, Inc. is headquartered at 40 Wall St., New York, with offices in Deer Park, N.Y., and West Palm Beach, Fla. This news release was prepared by management and they accept responsibility for its contents. The Vancouver Stock Exchange has neither approved nor disapproved the information. -0- 10/6/93 /CONTACT: Edward J. Plumacher, president or Anthony J. DiMaio, investor relations for SZL Sportsight, 212-943-8998, or Charles F. Mehler of Eastern Micro Systems, 407-697-3733/ (SZLSF)
CO: SZL Sportsight, Inc.; Eastern Micro Systems ST: New York, Florida IN: CPR SU: TNM
TW-PS -- NY010 -- 9196 10/06/93 08:50 EDT
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|Date:||Oct 6, 1993|
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