THE FUTURE NOW, INC. COMPLETES TARGETED ACQUISITIONS
THE FUTURE NOW, INC. COMPLETES TARGETED ACQUISITIONS CINCINNATI, Nov. 8 /PRNewswire/ -- The Future Now, Inc.
(NASDAQ: FNOW) the Cincinnati-based computer reseller, today announced it had completed the acquisitions of substantially all of the assets of computer reselling operations in Moline, Ill./Davenport, Iowa; Lexington, Ky.; and Cleveland, for $1.8 million in cash. The company also assumed debt of $400,000 and entered into consulting and non-compete agreements with the selling shareholders as part of the transactions. No Future Now common stock was issued as previously had been contemplated.
President and Chief Executive Officer Terry L. Theye commented, "We are extremely pleased to be combining our operations with operations of such high quality. The synergies these combinations should provide, in terms of both revenue enhancement and cost savings, should be significant. "The ongoing consolidation taking place in the industry today provides excellent opportunities for The Future Now to profitably expand its operations. We intend to continue to capitalize on these opportunities." The Future Now sells, installs and services microcomputers, microcomputer software products and turn-key microcomputer systems for business, professional, educational and governmental customers. With more than 350 employees, the company has sales offices in Cincinnati, Columbus and Dayton, Ohio; Indianapolis and Fort Wayne, Ind., and Louisville, Ky., in addition to the sales offices acquired with these business combinations. -0- 11/8/91 /CONTACT: Christopher T. Feger of The Future Now, 513-771-7110/ (FNOW) CO: The Future Now, Inc. ST: Ohio IN: CPR SU: CG -- CL012 -- 2603 11/08/91 12:51 EST
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|Date:||Nov 8, 1991|
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