( BW)(NY-APPLIED/SYSCOMM)(ADSX)(SYCM) Syscomm International
Corporation Completes Acquisition of Information Products Center
Business Editors/High Tech Writers
SHIRLEY, N.Y.--(BUSINESS WIRE)--Dec. 14, 2000--
Acquisition Propels SysComm Revenues to $56 Million
on Pro Forma Basis
David A. Loppert assumes position of CEO of SysComm International
SysComm International Corporation (Nasdaq Small cap: SYCM) announced
today that it has completed its acquisition of Information Product Center, Inc.
("IPC") a former subsidiary of Applied Digital Solutions, Inc. (Nasdaq: ADSX).
SysComm had previously announced that Applied Digital had agreed to acquire a
majority position in SysComm.
Concurrent with the closing of the acquisition, David A. Loppert,
former CFO of Applied Digital Solutions, has been named to the position of CEO,
replacing SysComm founder John Spielberger, and Anat Ebenstein, President of IPC
will become COO of SysComm. Mr. Spielberger will continue his involvement in a
consultative role.
David A. Loppert commented on the significance of the recent
developments: "I am very pleased to become involved in SysComm at this pivotal
time. SysComm made some important strategic changes to their business model in
recent months, moving away from a strict hardware reseller toward a network
integrator. Despite a solid business model, SysComm as situated lacked the
breadth to fully make the transition. By teaming the consistently profitable IPC
with SysComm, we will be able to leverage the particular strengths and market
segments of each. We expect, on a pro forma basis, to have a revenue base of $56
million annually. We also expect the operating synergies between SysComm and IPC
and the cross marketing opportunities afforded by our affiliation with Applied
Digital Solutions to have an immediate and profound rejuvenative effect."
SysComm offers a line of products and service to Fortune 1000 tier
companies, centered around the IBM Server family of products (RS/6000, AS/400,
Netfinity) platform. IPC provides network and systems analysis and design,
network infrastructure implementation, and other ancillary services such as:
Procurement, Project Management, and traditional engineering to its client base
of over 200 active customers in New York and New Jersey.
About Applied Digital Solutions
Applied Digital Solutions is a leading, single-source provider of
e-business solutions. The Company differentiates itself in the marketplace by
"enabling e-business through CTII(TM)" (Computer Telephony Internet
Integration). Applied Digital Solutions grew revenues a remarkable 14,315
percent over the past four years. In recognition of its strong growth record,
the Company has been ranked in the top tier of the fastest growing technology
companies in the "Technology Fast 500" listing compiled annually by Deloitte &
Touche. With a ranking of 27 in the listing for the year 2000, Applied Digital
was ranked in the Top Ten of the Fast 500 in two of the past four years. For
more information, visit the Company's website at http://www.adsx.com .
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About SysComm International Corporation
SysComm International Corporation, through its wholly owed InfoTech
subsidiary, provides comprehensive information technology solutions to Fortune
1000 companies as a value-added systems integrator of computer hardware and
software as well as providing a full range of e-business solutions from web
design and hosting through enterprise systems management. The Company, which
designs, configures, installs and supports mid-range mainframe and data storage
systems as well as personal computers, offers leading edge capabilities in
business intelligence and client-server applications and systems management for
the financial services, health care, education, government and general
commercial sectors. For more information, visit the Company's website at
http://www.infotechusa.com .
Statements about the Company's future expectations, including future
revenues and earnings, and all other statements in this press release other than
historical facts are 'forward-looking statements' within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of
1934, and as that term is defined in the Private Litigation Reform Act of 1995.
The Company intends that such forward-looking statements involve risks and
uncertainties and are subject to change at any time, and the Company's actual
results could differ materially from expected results. The Company undertakes no
obligation to update forward-looking statements to reflect subsequently
occurring events or circumstances.
