Published: February 01, 2006
Mobile Reach International, Inc. to Acquire SunTrips
Mobile Reach International
(OTC BB: MOBR) announced today that it has signed a Letter of Intent to
acquire Crystal Hospitality Holdings, Inc. Crystal Hospitality Holdings
recently entered into a definitive agreement to purchase the business and
brand known as SunTrips, the leading tour operator on the west coast. The
transaction is expected to close within the next 30 days.
The SunTrips business has been operating since 1977 and the most recent 12
months trailing revenues were just under $80MM (unaudited). The SunTrips
brand has a 29-year heritage of delivering high-value vacation packages,
including air, hotel, rental car and amenities. "We intend to use this as
a base to grow by expanding our product line-up, including new
destinations, new gateways, a business meetings and incentives division,
and service offerings for the industry and our loyal customers," said
Fabrizzio P. Busso-Campana, the new SunTrips CEO.
"The SunTrips model is all about combining the speed and value of
e-commerce with the human touch of our travel agent community, a service
approach our customers demand," continued Busso-Campana. To execute a plan
of growth Busso-Campana has assembled an executive team which has decades
of experience building major North American travel and leisure businesses.
"We look forward to them applying their craft to the benefit of our
customers, trading partners and shareowners alike."
There are standard closing conditions in the purchase agreement to be met,
and there can be no assurances that any or all of these conditions will be
met.
About SunTrips
SunTrips is one of the largest tour operators in the United States and has
been in business for 29 years. The company served over 151,000 vacationers
last year alone, from Oakland/San Francisco to Hawaii, Los Cabos, Puerto
Vallarta, Cancun, Cozumel and the Mayan Riviera, Costa Rica and the Azores.
It specializes in all-inclusive, value-priced vacation packages.
About Mobile Reach International, Inc.
Mobile Reach International, Inc. currently has one operating subsidiary,
Mobile Reach Technologies, which is the recognized leader in providing IT
Asset Management solutions on barcode scanners to enterprises and
government entities. Software and related services are provided by Mobile
Reach Technologies for BlackBerry enabled devices, personal digital
assistants, tablet and laptop computers and other mobile devices.
This press release contains forward-looking statements, which are made
pursuant to the Safe-Harbor provisions of the Private Securities Litigation
Reform Act of 1995. Words such as "intends," "believes" and similar
expressions reflecting something other than historical fact are intended to
identify forward-looking statements, but are not the exclusive means of
identifying such statements. These forward-looking statements involve a
number of risks and uncertainties, including the timely development and
national market acceptance of SunTrips , the ability to secure additional
sources of finance, the ability to reduce operating expenses and losses of
SunTrips, the inability to attract and retain the required personnel and
other factors described in the companies' respective filings with the
Securities and Exchange Commission. The actual results that the companies
achieve may differ materially from any forward-looking statement due to
such risks and uncertainties. The companies undertake no obligation to
revise or update any forward-looking statements in order to reflect events
or circumstances that may arise after the date of this release.
Distributed by Market Wire
Copyright © 2012, MarketWire
Copyright © 2012, NewsBlaze,
Daily News