SAN JOSE, Calif. –(Business Wire)– SS8 Networks announced today that it has completed the sale of its signaling and SMS businesses to NewNet Communication Technologies, a limited liability company formed by Skyview Capital LLC, a privately held investment firm. Financial terms of the asset purchase agreement were not disclosed.
“The strategic sale of our Signaling and SMS businesses is part of our efforts to meet increased demand for our products, develop new product lines, and improve customer service in all our business segments,” said Dennis Haar, president and CEO for SS8 Networks. “The newly formed NewNet Communication Technologies will be best-positioned to serve our existing SMS and Signaling customers by offering increased support as well as developing new product lines. In turn, SS8 Networks will be able to refocus our attention on our core lawful intercept and voice messaging business.”
According to the terms of the deal, the Signaling and SMS businesses, which include a core team of SS8 Networks employees, will deliberately, seamlessly and transparently transition to NewNet Communication Technologies. This new independence will enable an increased focus on customer service, product line development and product deployment in the SMS and signaling sector.
“SS7 signaling and SMS both continue to be essential, pervasive technologies in service provider networks today and we are delighted by the opportunity to become market leaders within this dynamic and evolving segment of the telecommunications industry,” said Alex Soltani, Chairman and CEO, for Skyview Capital. “We are looking forward to working with this highly seasoned management team, as we continue to drive NewNet Communication Technologies into the future of next generation products and applications.”
Pagemill Partners, a premier investment bank that specializes in mergers and acquisitions, was involved in an advisory capacity to SS8 in this transaction.
About Skyview Capital
Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and continuous management of “systems – critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. For more information, visit www.skyviewcapital.com.
About SS8 Networks
SS8 Networks, headquartered in San Jose, California, is an independent provider of carrier-grade, regulatory-compliant electronic surveillance solutions that have been deployed on all continents for the largest wireline, wireless, cable, VoIP and satellite service providers. These voice and data installations can already intercept more than 500 million subscribers, and serve over 10,000 law enforcement agents.
SS8’s expertise in communications forensics ensures that intercepted traffic is securely targeted, seized, stored, transferred and analyzed, so that evidentiary chain of custody is maintained for successful criminal prosecution. For more information, please go to www.ss8.com
NOTE TO EDITORS: SS8 Networks is a registered trademark of SS8 Networks Inc and Xcipio is a trademark of SS8 Networks Inc. All other company names and marks may be trademarks of the respective companies with which they are associated.
WEST CHESTER, Pa.–(BUSINESS WIRE)–Prescient Applied Intelligence, Inc. (OTCBB:PPID – News) announced today that it has entered into a Letter of Intent to purchase the assets of Fastech Integrated Solutions, LLC. Fastech develops world-class mobile, retail execution solutions tailored to the unique needs of companies in the CPG industry. ADVERTISEMENT
“Fastech’s mobile merchandising systems complement the solutions we provide to the retail marketplace, especially in the direct store delivery (DSD) category,” said Jane Hoffer, president and CEO of Prescient. “The combined offerings should give retailers and suppliers the tools they need to improve in-stock positions, resulting in better performance at the store shelf. The transaction is also expected to substantially increase our revenues, and provide additional liquidity as we look for opportunities to grow our business and increase shareholder value,” added Ms. Hoffer.
According to Rick Hirsh, CEO of Fastech, “We currently partner with Prescient in the delivery of its hosted solutions, so this acquisition is a natural extension of our existing business relationship. The companies’ combined ability to provide flexible solutions should result in greater penetration into the retail market.” Information about Fastech and its offerings is available at www.fastechis.com.
Under the terms of the LOI, Prescient will acquire 100% of the assets of Fastech. Fastech will receive 35% of the common stock on an as converted basis, as well as 35% of the preferred shares. The acquired assets include all intellectual property, client contracts, data center operations, and related assets. The acquisition is subject to, among other conditions, the completion of due diligence, the execution of a definitive agreement, as well as customary closing conditions. Additional information related to this transaction will be disclosed in a current report on Form 8-K and upon the execution of a definitive agreement. The transaction is expected to close on or before June 30, 2007.
About Prescient Applied Intelligence:
Prescient, founded in 1985 (OTCBB:PPID – News), is a leading provider of supply chain and advanced commerce solutions for retailers and suppliers. Prescient’s solutions capture information at the point of sale, provide greater visibility into real-time demand and turn data into actionable information across the entire supply chain. As a result, the company’s products and services enable trading partners to compete effectively, increase profitability and excel in today’s retail business climate. Household brand names like Ahold, Coors, Domino’s Pizza, Meijer, Rite Aid, Sara Lee, Schwan’s, SUPERVALU, and Wyeth rely on Prescient. For more information, go to www.prescient.com.
Any statements contained in this document regarding this transaction, as well as statements that are not historical facts, are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “if”, “should” and “will” and similar expressions as they relate to Prescient Applied Intelligence, Inc. are intended to identify such forward-looking statements. Prescient may from time to time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. There is a risk that this transaction will not close. For a discussion of such risks and uncertainties, see “Risk Factors” in Prescient’s report on Form 10-KSB filed with the Securities and Exchange Commission and its other filings under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.
PORTLAND, Ore., Jan. 30 /PRNewswire-FirstCall/ — TRM Corporation (Nasdaq: TRMM – News) announced today that it has completed the sale of its US Photocopier business to TRM Copy Centers, LLC, a limited liability company formed by Skyview Capital, LLC, a privately held investment firm, for $9.2 million. Net proceeds from the sale will be used to reduce debt and other corporate purposes.
“The sale of our US Photocopier business is a significant part of our ongoing efforts to simplify our business operations and meet our immediate debt obligations. This sale, together with the sale of our Canadian ATM business, which closed earlier this month, and our United Kingdom ATM business, which closed last week, will allow us to focus our efforts and resources on our United States ATM business. We will continue to have one of the largest ATM networks in the United States and we remain committed to its excellence and growth,” said Jeff Brotman, TRM President and Chief Executive Officer.
TRM Corporation and TRM Copy Centers , LLC have also signed a Facilities Maintenance Agreement and Transition Services Agreement that provide for certain services by and for TRM Corporation during a transition period that is expected to be between 45 and 180 days. Over 100 TRM Corporation employees were transferred with the sale of the US Photocopier business.
Alex Soltani, Chairman and Chief Executive Officer of Skyview Capital, also stated, “We are delighted to have consummated this transaction and are looking forward to forging onward and achieving great results with the full pledge and support of TRM Copy Centers, LLC’s exceptional management team.”
TRM Corporation was advised by Allen & Company LLC with respect to the transaction.
TRM Copy Centers, LLC Regarding the transaction, Gary Cosmer, President of TRM Copy Centers, LLC, stated, “We will now be dedicated exclusively to supporting and improving our copy center locations throughout the United States . Additionally, we are very excited to be bringing operations including photocopier refurbishment and customer service back home to our corporate headquarters in Portland , Oregon . Our immediate goal is to focus on the core strengths that made us the world leader in convenience photocopying; providing superior customer service and support every day, and working side by side with our customers to improve their store traffic and revenue.”
As part of the acquisition from TRM Corporation, TRM Copy Centers, LLC acquired all of the trademarks and rights associated with the TRM Copy Centers brand. Immediate plans for the company include the return of all business operations to its headquarters in Portland , Oregon .
About TRM Corporation
TRM Corporation is a consumer services company that primarily provides convenience ATM services in high-traffic consumer environments. TRM’s ATM customer base is widespread, with retailers throughout the United States . TRM operates the second largest non-bank ATM network in the United States .
About TRM Copy Centers, LLC
TRM Copy Centers, LLC is a retail photocopy services company that provides convenience copying services in retail environments. TRM Copy Centers operates more than 17,000 copy centers throughout the United States , and supports some of the country’s largest and most successful retailers including grocery, convenience and drug store chains.
About Skyview Capital
Skyview Capital, LLC (www.skyviewcapital.com), a private investment firm headquartered in Beverly Hills , California which specializes in the acquisition and continuous management of “systems – critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires.
FORWARD LOOKING STATEMENTS Statements made in this news release that are not historical facts are forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, such as consumer demand for our services; access to capital; maintaining satisfactory relationships with our banking partners and other lenders including our vault cash suppliers; technological change; our ability to control costs and expenses; competition and our ability to successfully achieve growth in our US ATM business. Additional information on these factors, which could affect our financial results, is included in our SEC filings. Finally, there may be other factors not mentioned above or included in our SEC filings that could cause actual results to differ materially from those contained in any forward- looking statement. Undue reliance should not be placed on any forward-looking statement, which reflects management’s analysis only as of the date of the statement. We assume no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.