Published:
Computer Software Innovations, Inc. Completes Acquisition of Software Solutions Provider, ICS Systems Inc.

Computer Software Innovations, Inc. ("CSI")
(OTCBB: CSWI), a provider of software and technology solutions to public
sector organizations, today announced that it has completed the acquisition
of ICS Systems, Inc. ("ICS") based in Greensboro, North Carolina. ICS has
a successful 25-year history in providing municipal financial management
solutions, including fund accounting and billing software, hardware, and
consultation. The acquisition provides CSI strategic advantages, with
ICS's valuable market experience, and increased penetration in its local
government market space. The ICS Greensboro, NC office provides an
immediate customer base contiguous with the existing CSI selling area and
provides a launching point for continued expansion. The transaction is
expected to be cash flow positive on an annual basis.
Nancy Hedrick, CSI's CEO, stated, "We welcome the ICS team and believe they
will be valuable contributors to our continued growth. Our attraction to
ICS stems from their solid customer base and strong solutions-focus, which
supports CSI's strategy of expanding its solutions offerings, adding higher
margin sales and recurring revenue to the revenue mix, and gaining deeper
penetration in the areas we serve. The acquisition will provide CSI with
a total customer base of 110 municipalities in North Carolina, which
represents a 20% share of the municipal government market in that state."
Hedrick added, "Beginning with ICS's annual revenues of more than one
million dollars, CSI should benefit from additional opportunities to serve
the embedded client base by presenting CSI technology and software
solutions to them. We are excited about the opportunities provided by this
acquisition and anticipate expanding into additional territories via the
Greensboro office."
Beth Byers, Vice-President of ICS prior to the acquisition, will transition
to CSI Vice President of Software Operations (ICS) and will continue to
oversee the operations of the Greensboro office. Beth stated, "Our team
is looking forward to joining the CSI team as we continue to focus on
delivering quality service and solutions to our clients."
About Computer Software Innovations, Inc.
CSI provides software and technology solutions primarily to public sector
markets. CSI has more than doubled its revenue in the past two years to
over $55 million by using organic growth and acquisitions to fuel an
aggressive expansion from its southeast base. Over 600 school, government,
and non-profit organizations have CSI solutions that encompass financial
management software specialized for the public sector, IT infrastructure,
IP telephony, IP video surveillance, printing/imaging solutions and
interactive classroom technologies. More information about CSI (OTCBB: CSWI) is available at www.csioutfitters.com.
Forward-Looking and Cautionary Statements
This release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Among other things, these statements relate to our
financial condition, results of operations and future business plans,
operations, opportunities and prospects. In addition, we and our
representatives may from time to time make written or oral forward-looking
statements, including statements contained in filings with the Securities
and Exchange Commission and in our reports to stockholders. These
forward-looking statements are generally identified by the words or phrases
"may," "could," "should," "expect," "anticipate," "plan," "believe,"
"seek," "estimate," "predict," "project" or words of similar import. These
forward-looking statements are based upon our current knowledge and
assumptions about future events and involve risks and uncertainties that
could cause our actual results, performance or achievements to be
materially different from any anticipated results, prospects, performance
or achievements expressed or implied by such forward-looking statements.
These
forward-looking statements are not guarantees of future performance. Many
factors are beyond our ability to control or predict. You are accordingly
cautioned not to place undue reliance on such forward-looking statements,
which speak only as of the date that we make them. We do not undertake to
update any forward-looking statement that may be made from time to time by
or on our behalf. In our most recent Form 10-K, we have included risk
factors and uncertainties that might cause differences between anticipated
and actual future results. We have attempted to identify, in context, some
of the factors that we currently believe may cause actual future experience
and results to differ from our current expectations regarding the relevant
matter or subject area. The operations and results of our software and
systems integration businesses also may be subject to the effects of other
risks and uncertainties, including, but not limited to:
-- a reduction in anticipated sales;
-- an inability to perform customer contracts at anticipated cost levels;
-- our ability to otherwise meet the operating goals established by our
business plan;
-- an economic downturn; and
-- changes in the competitive marketplace and/or customer requirements.
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
Daily News
Tags: ,Computers and Software:Hardware, ComputersandSoftware:Internet, ComputersandSoftware:Networking, ComputersandSoftware:Peripherals, ComputersandSoftware:Software, EducationandTraining:EducationAidsandProducts, EducationandTraining:SchoolsandCourses, EducationandTraining:Training, ,OTCBULLB,OTCBULLB,OTCBULLB,SC,EASLEY, SC