latest news releases from the newsroom
Paramco Financial Group, Inc.
The Prestige Group.Net, Inc. Signs Letter of Intent to Acquire Woodlands S.A. Financial Services, Inc.
DENVER, Oct. 2, 2002 (PRIMEZONE) -- Douglas G. Gregg, President of The Prestige Group.Net Inc. (OTCBB:PGPN), announced today that it has entered into a letter of intent to acquire all of the capital stock of Woodlands S.A. Financial Services, Inc. (Woodlands), of San Antonio, Texas. Terms and conditions were not announced.
Parthus Technologies plc
Combination of Parthus and Ceva -- Date Fixed for Court Hearing to Approve the Scheme of Arrangement
DUBLIN, Ireland and SANTA Clara, Calif., Oct. 2, 2002 (PRIMEZONE) -- Parthus Technologies plc ("Parthus") (LSE:PRH) (Nasdaq:PRTH), DSP Group, Inc. ("DSPG") (Nasdaq:DSPG) and Ceva, Inc. ("Ceva") jointly announce that the Irish High Court has directed that Parthus' petition to approve the scheme of arrangement, including the capital repayment, as described in the circular to shareholders and option-holders dated September 2, 2002 (the "Scheme") be heard on October 21, 2002 (the "Court Hearing") and that notice of the Court Hearing be placed in the Wall Street Journal, the Financial Times, the Irish Times and Iris Oifigiul (an Irish Government official publications journal).
Credit Suisse Group
Credit Suisse Group Strengthens Winterthur's Capital Base and Comments on Expected Third Quarter Results
ZURICH, Switzerland, Oct. 2, 2002 (PRIMEZONE) -- Credit Suisse Group (NYSE:CSR) (Other OTC:CSGKF) today announced that it has further strengthened the capital base of its insurance units with CHF 2.0 billion, as part of its capital plan for Winterthur communicated in the second quarter earnings release on August 14, 2002. This capital contribution will reinforce Winterthur's solvency capital to support the growth of its businesses in this challenging environment. The Group also announced that in the third quarter of 2002, its results will be impacted by a significant net loss in the insurance business, as well as by a modest overall negative effect from the Group's other businesses.
TietoEnator to Supply Network Service Solution for Vantaa
ESPOO, Finland, Oct. 2, 2002 (PRIMEZONE) -- The City of Vantaa in Finland is renewing both its internal and external network services. The information technology supplier chosen by Vantaa is TietoEnator, which will be responsible for designing the city's Internet service and intranet as well as specifying an e-learning solution. The services will be built on the Elevation solution developed by Visual Systems.
Skanska Completes Acquisition of Yeager
STOCKHOLM, Sweden, Oct. 2, 2002 (PRIMEZONE) -- In accordance with the letter of intent announced earlier, Skanska has completed the acquisition of Yeager Construction Company -- a civil engineering firm based in southern California.
Telelogic Signs Major License and Services Agreements for Total Product Offering
MALMO, Sweden, Oct. 2, 2002 (PRIMEZONE) -- Telelogic, (Stockholm:TLOG) (Other OTC:TGIAF), the leading global provider of solutions for advanced systems and software development, today announced that it has signed a major agreement with a Government customer within its operations in EMEA (Europe, Middle East and Africa) covering licenses for all of Telelogic's development tools and accompanying services. In total the agreement is worth 1.34 MUSD with approximately 700 kUSD for licenses and maintenance and the remaining 640 kUSD in consultancy and training over a 2-year period. The customer will use Telelogic's entire portfolio of development tools to develop and maintain command & control systems as well as advanced logistics systems for air surveillance operations. Telelogic's position as one of the few solutions providers for the entire software development lifecycle was a major reason for the customer choosing Telelogic as a partner. The customer signed the agreement on September 30.
ReadSoft Carries Out Cost Savings Program
STOCKHOLM, Sweden, Oct. 2, 2002 (PRIMEZONE) -- In order to adjust to the current market situation, ReadSoft's board of directors has decided to carry out a cost savings program. The measures include a staff reduction of 45-50 employees. Since sales are lower than anticipated, ReadSoft will most likely not reach a positive result for the full year 2002.