Business Services Industry
MCSi, Inc. Announces the Signing of a Definitive Merger Agreement With Westek Presentation Systems, Inc. and the Completion of the Merger With Midwest Visual Communications, Inc
Business Wire, July 13, 2000
Business Editors
DAYTON, Ohio--(BUSINESS WIRE)--July 13, 2000
MCSi, Inc. (Nasdaq:MCSI) today announced the signing of a definitive merger agreement with Westek Presentation Systems, Inc., a $14 million annual revenue integrator of audio-visual products, headquartered in San Diego, California. The terms were not disclosed.
Michael E. Peppel, Chairman, President and Chief Executive Officer of MCSi, Inc., said, "This transaction will expand our capabilities to serve the fast-growing visual communications market, and it represents an excellent business and geographic fit. Westek Presentation Systems, with more than 10 years of experience, is a strong match that will lead to exciting growth prospects."
"The merger with MCSI will enhance our existing product and service offerings and increase our market opportunity," said Wade Harb, President and CEO of Westek. "We will be much better positioned to be a strong and formidable competitor as we join the largest player in the industry."
MCSi, Inc. also announced that it had completed the merger transaction with Midwest Visual headquartered in Chicago.
About MCSi
MCSi, whose tagline is "Media Consultants, Systems Integrators" is emerging as a frontrunner in the computer products and visual communications convergence market space with solutions-focused offerings as a reseller of products, a designer and integrator of technically sophisticated systems and a provider of continuing technical support services. MCSi's scalable solutions address clients at every level of the business transaction continuum -- product, integrated solutions, enterprise solutions, strategic initiatives and a range of field services. MCSi's product and service offerings include sophisticated server solutions for large and small-scale LANs, WANs and web platforms, multimedia presentation platforms which integrate presentation technologies with remote network administration and cross-platform connectivity, document management solutions from high-resolution scanners, cameras and copier products to file management and redundant storage systems, and flexible videoconferencing solutions. MCSi is also the single-source provider of computer and visual-related products -- from inkjet/toner cartridges, hard copy peripherals and high-end printing media to audio/video tape, multimedia and broadcast equipment and presentation projectors delivered over a robust business to business internet platform powered by its subsidiary, Zengine, Inc., (www.zengine.com), (not part of this release).
The matters discussed in this press release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of MCSi, the occurrence of which involve risks and uncertainties which include, but are not limited to, general economic conditions, industry trends, functionality of hardware and software, actions of competitors, MCSi's ability to manage its growth, factors relating to its acquisition/merger strategy, actions of regulatory authorities, restrictions imposed by its debt arrangements, dependence upon key personnel, dependence upon key suppliers, customer demand, risks relating to international operations, dependence on its computer systems and other factors. A complete description of those factors, as well as other factors which could affect MCSi's business, is set forth in MCSi's Form 10-K for the year ended December 31, 1999 and its Form 10-Q for the three months ended March 31, 2000.
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