Emtec Acquires State of New Jersey Contract From Acentra Technologies
MT. LAUREL, N.J., Aug. 29 /PRNewswire-FirstCall/ -- Emtec, Inc., (OTC Bulletin Board: ETEC.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 adjustments. As a part of the transaction, Acentra's President, Joseph Garofalo, joins Emtec's senior management team as Senior Vice President of Government/Education, Northeast Region; and Emtec hired 33 of Acentra's 50 employees. 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. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X25613325
SOURCE Emtec, Inc.
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