Emtec, Inc. Expands Again with New Asset Acquisition
MT. LAUREL, N.J., Sept. 12 /PRNewswire-FirstCall/ -- For the third time in a year, Emtec, Inc. (OTC Bulletin Board: ETEC), a leading IT solutions integration firm, has expanded its operations through acquisition. On August 31, 2002, Emtec acquired all of the customer contracts and certain other assets of Turnkey Computer Systems, Inc. of Clifton, NJ. The purchase price will be paid over a two-year period and will be based on revenues derived from the customer contracts transferred from Turnkey Computer Systems to Emtec. Emtec has also hired 16 of Turkey Computer Systems' employees. Founded in 1985, Turnkey Computer Systems, Inc. offers a full range of information technology (IT) services and has also had success providing managed building services. These services include agreements with commercial building landlords to provide "in-house" IT services to their tenants. "We are very impressed with Turnkey's success in the managed building services sector," noted John Howlett, Emtec's CEO. "We would like to expand this service throughout our market area and have subsequently appointed Turnkey's former President, Leonard DiCostanzo, as Senior Vice President responsible for this business sector. He will also oversee Emtec's channel development for our managed services offerings," he noted. In August, Emtec announced an asset acquisition agreement with Acentra Technologies, Inc., an IT solutions integration company in Trenton, NJ. Earlier this year, Emtec completed a purchase of another systems integration and consulting firm, Devise Associates, Inc. from McLeodUSA, Inc. In addition to these acquisitions, Emtec opened an office in Jacksonville, FL, its sixth East Coast location. Emtec employs 215 people. "The recent acquisitions we have made, coupled with the new office in Florida, allows us not only to expand our market area, but to offer our customers a more complete range of IT services that are second to none on the East Coast," Howlett said. 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. Visit http://www.emtecinc.com or call (800) 220-1120, Ext. 210. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X68268383
SOURCE Emtec, Inc.
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