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EXHIBIT 99.1
THURSDAY AUGUST 3, 7:00 AM EASTERN TIME
PRESS RELEASE
SOURCE: DDi Corporation
DDI CORP. AGREES TO PURCHASE ASSETS OF
AUTOMATA INTERNATIONAL
HIGHLIGHTS:
-- EXCEPTIONAL TECHNOLOGY TO PROVIDE HIGHER AVERAGE PANEL LAYER COUNT
-- EXPANDS CAPACITY TO SERVICE EXPLOSIVE INDUSTRY DEMAND FOR COMPLEX PRINTED
CIRCUIT BOARDS
-- EXTENDS GEOGRAPHIC FOOTPRINT TO EASTERN SEABOARD
ANAHEIM, Calif., Aug. 3 /PRNewswire/ -- DDi Corp. (Nasdaq: DDIC - news), a
leading provider of time-critical, technologically advanced design, development
and manufacturing services for the electronics industry, today announced its
intent to acquire the assets of Automata International, Inc., a Virginia-based
manufacturer of technologically advanced printed circuit boards (PCBs). Automata
International filed for Chapter 11 bankruptcy protection on June 23, 2000 and
filed with the bankruptcy court an agreement by which DDi would acquire the
manufacturing facility, fixed assets and other assets of Automata International.
The bankruptcy court approved the transaction today, with a sale price of
approximately $20 million in cash. The closing is expected to occur this week.
Acquisition Provides Strategic East Coast Presence
DDi Corp. has viewed Automata International as an attractive acquisition target
for several years, according to President and Chief Executive Officer Bruce
McMaster. "We have been looking for an opportunity to establish a manufacturing
presence on the East Coast. We will not only achieve that objective, but,
importantly, we view this as an opportune acquisition in terms of gaining
additional capacity immediately. The market for PCB products and assembly is
incredibly active, and while the electronics manufacturing services industry as
a whole is trying to manage production levels at all time highs, we will be able
to address an even larger part of that market. The additional 100,000 square
feet of manufacturing space will increase our present PCB manufacturing
capabilities by over 30%, enabling us to service our existing customers even
more efficiently while stepping up our outbound sales and marketing efforts."
Automata -- Leading Reputation for Technology
With its top engineering and manufacturing talent, Automata has achieved a
strong reputation within the electronics manufacturing services (EMS) industry
for the exceptional level of technology it delivers. In
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its 25-year history, Automata has established an average panel layer count of 14
to 16 layers per PCB, among the highest in the industry. Automata's
technological operations would complement DDi's time-critical design and
manufacturing of complex PCBs and would immediately incease its average panel
layer count available to customers.
About DDi Corp.
DDi Corp. (Nasdaq: DDIC - news) is the parent of DDi Intermediate Holdings
Corp., DDi Capital Corp., Dynamic Details, Incorporated and MCM Electronics Ltd.
DDi Capital Corp. and Dynamic Details, Inc. have outstanding public bonds. DDi
is a leading provider of time-critical, technologically advanced design,
development and manufacturing services. Headquartered in Anaheim, California,
with design and manufacturing facilities across the U.S. and in England, DDi and
its subsidiaries service over 1,900 customers worldwide.
This press release contains information about future expectations, plans and
prospects that may constitute forward-looking statements for purposes of the
Safe Harbor provisions under the Private Securities Litigation Reform Act of
1995. Actual results or developments may differ materially from those projected
or implied in the forward-looking statements. More information about the risks
and challenges faced by DDi Corp., Dynamic Details, Incorporated, DDi
Intermediate Holdings Corp. and DDi Capital Corp. is contained in the Securities
and Exchange Commission filings made by these entities.
SOURCE: DDi Corporation
