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Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact: Ira H. Stanley
Vice President, Chief Financial Officer
[email protected]
937/291-8051
MCSi AGREES TO ACQUIRE THE ASSETS OF INTELLISYS, INC.
Dayton, OH - October 9, 2000: MCSi, Inc. (NASDAQ: MCSI) announced today that it
had signed an agreement to purchase a significant portion of the assets of
Intellisys Group, Inc., a $150 million (annual) revenue integrator of
audio-visual systems and products. This agreement is a part of a proposed
Chapter 11 reorganization of Intellisys. Terms of the agreement were not
announced. The closing of the asset acquisition agreement is subject to certain
governmental and other approvals.
"Going forward, this Intellisys - MCSI transaction will be quite potent," said
Michael E. Peppel, Chairman, President and Chief Executive Officer of MCSi, Inc.
"With the human and technical resources which will be available to MCSi,
customers can expect a solution that is unparalleled in the industry. This
relationship will represent the fusion of two industry pioneers that will
translate into remarkable opportunities."
"This transaction is a significant step forward for our organization," said Mike
Gummeson, President and CEO of Intellisys. "The combination of Intellisys Group
and MCSI will solve the resource and systems issues which have so severely
hampered our company and create an industry powerhouse," Mr. Gummeson concluded.
Headquartered in Westlake Village, California, Intellisys Group has 14 offices
throughout California, Washington, Oregon, Colorado, Texas, Georgia and
Massachusetts. Intellisys Group designs, sells, installs, services and supports
integrated audio-visual presentation, conferencing, and networked media systems.
It also sells a wide variety of portable presentation equipment.
ABOUT MCSi
MCSi has emerged as the nation's leading systems integrator of state-of-the-art
presentation and broadcast facilities. MCSi's foresight and ability to converge
three key industries: audiovisual systems, broadcast media and computer
technology, combined with design-build and engineering expertise, computer
networking and configuration services, an extensive product line, and quality
technical support services, has given MCSi a distinct advantage in the systems
integration marketplace and contributed to the dramatic growth of the company.
MCSi's scalable solutions address clients at every level of the business
transaction continuum. Products and services are available directly through the
Company and its sales specialists, many of whom provide enterprise-wide
solutions and/or work exclusively with clients on strategic initiatives.
Customers benefit from MCSi's years of experience, extensive product knowledge,
and strong relationships maintained with manufacturers and technology leaders.
With the largest selection of audiovisual/presentation, computer, and office
automation products and the legacy of technical support and field service in 126
locations across the United States and Canada, MCSi's customers are provided
with a unique value that extends beyond the product.
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MCSi's products are also provided over a robust business-to-business e-commerce
platform powered by its subsidiary, Zengine, Inc. Additional information
regarding MCSi can be obtained at www.mcsinet.com (but is not part of this
release).
The matters discussed in this press release which are not historical facts
contain forward-looking information with respect to plans, projections or future
performance of MCSi, the occurrence of which involve risks and uncertainties
which include, but are not limited to, general economic conditions, industry
trends, functionality of hardware and software, actions of competitors, MCSi's
ability to manage its growth, factors relating to its acquisition/merger
strategy, actions of regulatory authorities, restrictions imposed by its debt
arrangements, dependence upon key personnel, dependence upon key suppliers,
customer demand, risks relating to international operations, dependence on its
computer systems and other factors. A complete description of those factors, as
well as other factors which could affect MCSi's business, is set forth in MCSi's
Form 10-K for the year ended December 31, 1999, and its Form 10-Q for the
quarter ended June 30, 2000.
