Business Services Industry
EMRISE CORPORATION Has Engaged the International Investment Banking Firm of Susquehanna International Group, LLLP
Business Wire, May 11, 2007
RANCHO CUCAMONGA, Calif. -- EMRISE CORPORATION (NYSE Arca:ERI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has engaged the investment banking firm Susquehanna Financial Group, LLLP ("SFG"). EMRISE expects to investigate a range of possible alternatives which may include mergers and acquisitions. SFG will assist EMRISE in exploring these potential transactions as well as other strategic alternatives for the Company. No assurance can be given that any transaction will result from the exploration process that SFG has been retained to manage.
Carmine T. Oliva, Chairman, President and CEO of EMRISE, stated: "We believe engaging Susquehanna will significantly enhance our ability to achieve our strategic objectives. They are familiar with and have worked with some well known companies in our industry. We think Susquehanna will provide us with valuable access to extended industry relationships and sound financial advice."
About EMRISE CORPORATION
EMRISE Corporation is a multi-national manufacturer of defense and aerospace electronic devices and communications equipment. EMRISE's electronic devices group, which consists of EMRISE Electronics Corporation and its international subsidiaries, provides power conversion, RF devices as well as digital and rotary switches to the North American, European and Asian electronic market. These products are primarily used for defense, aerospace and industrial applications. EMRISE's communications equipment group, consisting of CXR Larus Corporation and its subsidiary CXR Anderson Jacobson, provides network access and timing and synchronization products to the North American, European and Asian communications industry. Founded in 1983, EMRISE operates out of facilities in the United States, England, France and Japan. As of March 31, 2007, EMRISE had a total of 298 employees in its various subsidiaries and divisions. Website: www.emrise.com. Listed on NYSE Arca under the ticker symbol: ERI.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
With the exception of historical information, the matters discussed in this press release, including without limitation, the Company's intention to investigate a range of possible strategic alternatives, are forward-looking statements that involve a number of risks and uncertainties. The actual future results of EMRISE CORPORATION could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, changes in the Company's financial condition and general market and economic conditions, the ability of Susquehanna and the Company to successfully identify, negotiate and consummate a suitable transaction that achieves the Company's strategic objectives, and those factors contained in the "Risk Factors" Section of the Company's Form 10-K for the year ended December 31, 2006 and other Company filings.
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