latest news releases from the newsroom
Ideation Acquisition Corp.
Ideation Acquisition Corp. Signs Definitive Agreement to Acquire SearchMedia International Limited
LOS ANGELES, April 1, 2009 (GLOBE NEWSWIRE) -- Ideation Acquisition Corp. ("Ideation" or the "Company") (NYSE AMEX:IDI) and SearchMedia International Limited ("SearchMedia") announced today that they have entered into an agreement and plan of merger, conversion and share exchange ("Share Exchange Agreement"). Pursuant to the Share Exchange Agreement, following receipt of stockholder approval by Ideation, Ideation will complete a corporate reorganization that will result in a redomestication of Ideation into a Cayman Islands exempted company ("Ideation Cayman"), after which the holders of SearchMedia's shares, warrants, options and restricted shares will exchange the outstanding securities of SearchMedia held by them for ordinary shares, warrants, options and restricted shares, respectively, of Ideation Cayman.
Fundtech Survey Finds Almost 40% of Small- to Mid-Size U.S. Banks Not Happy With Current ACH System
JERSEY CITY, N.J., April 1, 2009 (GLOBE NEWSWIRE) -- Forty percent of small- to mid-size banks in North America are not happy with their current ACH system according to a survey by Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction banking solutions, released today. In the survey of 70 payments professionals, the respondents cite inadequate reporting (50%) and insufficient automation (27%) as the two main areas for improvement.