MT. LAUREL, N.J., Aug. 22 /PRNewswire-FirstCall/ --
Emtec, Inc., (OTC Bulletin Board: ETC.OB) a leading IT solutions integration
firm, announced that it has acquired certain assets of Acentra Technologies,
Inc., including the assumption of Acentra's contract with the State of New
Jersey. In fiscal 2001, Acentra received revenues of $30 million from
purchase orders under this contract. The aggregate purchase price of the
Acentra assets was approximately $200,000 subject to certain post-closing
As a part of the transaction, Acentra's President, Joseph Garafolo, joins
Emtec's senior management team as Senior Vice President of
Government/Education, Northeast Region; and Emtec hired 33 of Acentra's 50
Founded in 1987, Trenton, NJ-based Acentra Technologies is an IT solutions
integration company that offers project management, professional services,
network consulting, cabling and technical support services. In addition to
its work in the private sector, Acentra provides these services to a number of
New Jersey State government departments and agencies, as well as
municipalities and school boards throughout the state. During fiscal 2001,
Acentra's revenues were approximately $34 million. A loss for the same period
is expected but has not yet been quantified.
"Particularly important to us is Acentra's portion of the New Jersey State
Micro/Mini Contract, which includes a range of installation and consulting
services, as well as hardware and software procurement. Equally attractive is
the company's involvement in the state's education market. Although we handle
a significant volume of education business in our Southeast Region --
especially in Georgia and Florida -- this new relationship will open up new
market opportunities in our Northeast Region," said Emtec CEO John Howlett.
Howlett also noted that the new relationship with Acentra enhances Emtec's
services expertise in two key areas. "We are particularly excited about
Acentra's expertise in Cisco's voice-over-IP technology. Additionally, we can
now offer our customers our own cabling service. Acentra's clients and
prospects will also benefit by having Emtec's suite of new managed services
offerings available to them."
In fiscal 2001, Emtec had revenues of $69.6 million. The addition of
33 former Acentra employees raises Emtec's staff to more than 200 people in
six East Coast offices extending from New York to Florida.
About Emtec, Inc.
Since 1981, Emtec has provided IT solutions for leading companies
throughout New York, New Jersey, Connecticut, Pennsylvania, Delaware, Georgia
and Florida. A leading information technology solutions provider, Emtec
provides services that include network monitoring, help desk, IT consulting,
security, data storage, data protection and enterprise infrastructure design
and implementation. Emtec has been listed on the VAR Business 500 list
continually since 1995. For more information about Emtec, Inc. visit
http://www.emtecinc.com or call (800) 220-1120, Ext. 210.
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SOURCE Emtec, Inc.