Business Services Industry
CityTalk Hires Stephens Inc
Business Wire, Nov 20, 2006
Move Follows Last Week's Announcement of Definitive Agreement to Merge with Semotus, Inc.
WEST PALM BEACH, Fla. -- CityTalk, Inc. ("CTI"), an emerging player in the fast-growing cellular market, announced today that it has hired Stephens Inc., a full-service investment banking and brokerage firm headquartered in Little Rock, Arkansas, to help evaluate future alternatives.
Today's announcement follows the announcement last week that CityTalk and Semotus, Inc. (AMEX:DLK), a software solutions company for enterprise mobility, have entered into a definitive merger agreement. Privately held CTI was founded by Richard Sullivan, former Chairman and CEO of Applied Digital Solutions (NASDAQ:ADSX) and Digital Angel Corporation (AMEX:DOC), and Steve Keaveney, an experienced telecommunications entrepreneur. Most recently, Mr. Keaveney founded and built Broadworks Communications Ltd. (www.broadworks.tv) within a 12-month time frame before he exited through a trade sale. Broadworks is a triple play residential broadband provider in Ireland.
Semotus Solutions provides software for the enterprise, wirelessly connecting people to critical business systems, information and processes. Semotus has a Fortune 1000 customer base and over a decade of experience in serving the enterprise market with wireless software and service solutions. Semotus will continue as a division of the combined company and both companies are expected to benefit from joining forces and exploiting the synergies that will result from this merger.
About CityTalk, Inc.
CityTalk ("CTI") is a merger vehicle founded by Richard Sullivan, former CEO and Chairman of Applied Digital Solutions and Digital Angel Corporation and telecom business entrepreneur Steve Keaveney to acquire tower infrastructure and flat rate cellular operations in key markets in the continental United States. CTI is in advanced negotiations for the acquisition of a significant tower asset, spectrum and cellular portfolio.
About Semotus Solutions, Inc.
Founded in 1993, Semotus Solutions (AMEX:DLK) is a provider of software for the mobile enterprise, connecting people to critical business systems, information and processes. Semotus has a Fortune 1000 customer base including Lockheed Martin, Blue Cross Blue Shield, Coca-Cola, Hewlett Packard, Nextel Communications, JP Morgan Chase and The United Nations. Semotus Solutions' software provides mobility, convenience, efficiency and profitability in the areas of workforce automation, finance, health care and m-commerce. For more information, please visit the following web sites: http://www.semotus.com; http://www.hiplinkwireless.com; http://www.clickmarks.com; http://www.xb.com.
About Stephens Inc.
Stephens Inc. is a full service investment banking firm headquartered in Little Rock, Arkansas. Founded in 1933, the firm serves a broad client base which includes corporations, state and local governments, financial institutions, institutional investors and individual investors throughout the United States and overseas. The firm is self-clearing and a member of the New York Stock Exchange and SIPC. Stephens' services include investment banking, money management, wealth management, securities underwriting, equity research and general securities brokerage and trading. C Today, Stephens maintains offices within Arkansas in Little Rock, Conway, Hot Springs and Fayetteville, and outside Arkansas in Atlanta, Austin, Baton Rouge, Boston, Charlotte, Chicago, Dallas, Houston, Memphis, Nashville, New Haven, New York City, Oklahoma City, Richmond, St. Petersburg, Washington, D.C. and London. For more information, please visit www.stephens.com.
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 market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes 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.
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