BOCA RATON, Fla., June 28, 2005 (PRIMEZONE) -- American-Way Business Development Corp. (Pink Sheets:AWBV) announced today it has completed the purchase of Prime Time High School Sports, a high school sports recruiting network. The purchase, made for an undisclosed amount of AWBV stock and cash, is the 5th completed acquisition for AWBV in 2005.
"This acquisition opens American-Way to new and exciting markets around the country," declared Don Platten, AWBV CEO & President. "We're going to put our team to work on the Prime Time marketing program. By this time next year the first wave of high school grads should be entering college with scholarships that American-Way/Prime Time helped make possible."
Prime Time assists high school seniors in obtaining sports scholarships based on their athletic achievements in addition to the individual's academic excellence and civic contributions. American-Way/Prime Time is expected to move forward on agreements that will formalize its strategic expansion plan based on selling licensing agreements to local and regional sports scouts.
About American-Way Business Development Corp.:
AWBV specializes in the acquisition of small private companies. AWBV then maintains ownership in these companies, normally 20-25%, building value for AWBV as its affiliates grow. Under the guidance of AWBV, companies are given critical advice about due diligence, valuation analysis, and strategic positioning in negotiations. After the spin-off, AWBV continues to guide these companies in meeting their strategic and financial objectives.
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