Published:
Vault Technology, Inc. Announces Letter of Intent to Acquire Presentation Concepts Corp.
Acquisition Will Contribute Over $8 Million in Revenues for 2009
Vault Technology, Inc. (OTCBB: VULT)
today announced that it has executed a Non-Binding Letter of Intent to
acquire 100% of the shares of Presentation Concepts Corporation (PCC).
Founded in 1997, PCC is a multimedia services company specializing in
audiovisual systems integration and IT services.
"PCC has demonstrated consistent growth and has developed an outstanding
reputation in the audiovisual market. Their strong management team as well
as their growth plans makes them an excellent foundation for our roll-up of
A/V integrators," said Nick Arroyo, President and CEO of Vault.
"I'm excited to be a part of this visionary company and its growth plan,"
said Joseph Musumeci, President of PCC. "Having been in the audiovisual
industry for over 15 years, I believe the time is right for structured
consolidations like this one. With the resources of Vault behind us, I am
confident that we can grow our market share and add tremendous value for
our stakeholders," added Musumeci.
Based in Syracuse, New York, PCC has offices throughout New York State
providing audiovisual systems design, integration, sales, rental and
service. Their products include large format displays, projection
equipment, interactive whiteboards, control systems, digital signage
systems, and video conferencing systems. PCC also specializes in e-mail,
networking and web services to small and medium size businesses providing
enterprise level products and services, including Content Management
Systems, MS Exchange, Mobile Messaging, and Web Portals.
About Vault Technology, Inc.
Vault Technology, Inc. is acquiring operating entities that deliver
products and services related to audiovisual systems integration, home
theater systems and digital media. Target entities are businesses that
have achieved revenue growth and earnings over the years. Vault is also
actively engaged in the development of breakthrough strategies for the next
generation of enterprise system solutions. If you would like additional
information about Vault Technology, please visit our website at
www.vaulttechnology.com
About Presentation Concepts Corporation
Presentation Concepts Corp. is a multimedia services company specializing
in audiovisual system design, integration, sales, rental and service, as
well as web design and development, networking, security products and other
IT services focusing on educational institutions, government, and corporate
customers. PCC clients include Cornell University, Syracuse University,
the State of New York, Blue Cross/Blue Shield and Lockheed Martin among
others. Visit www.pccav.com for additional information.
Safe Harbor Statement
This release contains forward-looking statements, which are made pursuant
to the safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements are commonly identified by
words such as "would," "may," "will," "expects," and other terms with
similar meaning. Forward-looking statements are based on current beliefs,
assumptions and expectations and speak only as of the date of this release
and involve risks and uncertainties that could cause actual results to
differ materially from current expectations. We assume no obligation to
update or revise any forward-looking statement, whether as a result of new
information, future events or any other reason.
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