TEANECK, N.J., May 17 /PRNewswire/ --
Vizacom Inc. (Nasdaq: VIZY) today announced that it has entered into a letter of intent to acquire the business of Silk Road Interactive Corp., a privately-held e-business technology developer and consulting firm based in New York City.
"The acquisition of Silk Road is expected to add a significant dimension to the Company's e-commerce solutions business, augmenting those services being provided by the recent acquisitions of Renaissance Multimedia, Junction 15 and PWR Systems. Combining Silk Road's services with those of our other e-commerce solutions companies is expected to allow our e-commerce solutions business to develop solutions designed to meet our clients' e-business requirements," said Mark E. Leininger, President and CEO of Vizacom Inc. "We believe that Silk Road will provide our operations with expertise in interactive-related technologies, an impressive client roster, a business process dedicated to customized service, and a vibrant 'boutique' culture that motivates and retains employees."
The acquisition of Silk Road is intended to significantly add to the range of technology integration and consulting services that Vizacom currently provides through its interactive companies.
"We believe that our planned acquisition by Vizacom will allow Silk Road to provide additional, synergistic services to our clients," said Peter Friedman, President of Silk Road. "We also look forward to integrating our services with those of Vizacom's other interactive subsidiaries to provide the complete solutions that the market is demanding to build successful e-businesses."
Under the terms of the non-binding letter of intent, Vizacom expects to acquire the operating assets of Silk Road Interactive in a common stock and cash transaction. The terms of the acquisition have not been disclosed. Silk Road's principals, Peter Friedman and Kenneth Friedman, are expected to assume management roles.
About Silk Road Interactive Corp.
Silk Road Interactive, which also goes by the name of Silk Road i, is a privately-held e-business technology developer and consultant that helps companies develop bold new approaches to business through the strategic use of information technologies. The company specializes in designing Internet-based business systems: including e-commerce sites, corporate extranets and intranets, procurements systems, and web publishing systems. Services include technology development, database architecture, legacy integration, and systems analysis. Silk Road also develops comprehensive security architecture, web systems, and customer relationship management systems. Clients include the White House Historical Association and 365biz.com. Silk Road is headquartered in Silicon Alley in New York City, and is expected to combine its offices with Vizacom's subsidiary Renaissance Multimedia upon its acquisition by Vizacom Inc.
About Vizacom Inc.
Vizacom Inc. is a holding company of e-commerce solution providers and software publishing companies. Through its wholly owned subsidiaries, Renaissance Multimedia, Junction 15 Ltd. and PWR Systems, the Company provides interactive design and systems integration services. Additionally, Vizacom operates web-enabled and traditional call center services, and publishes the award-winning Harvard Graphics(R) and Serif(TM) software products. Founded in 1992, Vizacom Inc. is headquartered in New Jersey, U.S., and operates in the U.S. and Europe.
Safe Harbor
Matters set forth herein may include forward-looking statements involving risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, the market acceptance and amount of sales of the Company's interactive e-commerce services and solutions, and software and hardware products; the Company's ability to expand into the markets for Internet-related services, including e-commerce solutions and web-enabled customer service; the Company's ability to develop, acquire or license marketable products, services and successful businesses; the Company's ability to support the growth of its businesses; the Company's ability to integrate or coordinate the operations of its businesses; the Company's ability to integrate or coordinate the services provided through its interactive and e-commerce companies; the Company's ability to hire, train, motivate and retain employees; the competitive environment within the Company's industries; the Company's ability to raise additional capital; the success of the Company's VisualCities.com Internet commerce network; and the extent that the Company's direct marketing operations achieve satisfactory response rates. Investors are directed to consider other risks and uncertainties as discussed in documents filed by the Company with the SEC.
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