TUSTIN, Calif., Nov. 2, 2004 (PRIMEZONE) -- VillageEDOCS (OTCBB:VEDO) today announced that it has entered into a letter of intent to acquire a Document Management Solutions Provider.
The document management solutions provider has been in business for more than 10 years, is headed by industry veterans, and currently has approximately 1000 clients, which includes several Global 5000 companies. Revenues for 2005 are projected to be over $3,000,000. The transaction is expected to close prior to January 31, 2005, subject to the satisfaction of certain conditions as set forth in the letter of intent.
The document management solutions provider offers a full spectrum of Enterprise Content Management, providing simple, intuitive, yet powerful Knowledge Management software that allows organizations of all sizes to Process, Capture, Manage, and Protect their vital business information. Their proven software puts users in a position to optimize the content and appearance of documents and to deliver them via Print, Fax, E-Mail, Web, or Imaging and Archiving.
"We are very pleased at the prospect of integrating with this dynamic, fast-growing company whose products are well respected in the Enterprise Content Management market space. This acquisition is one more step toward our vision of providing a complete business information delivery solution. The document management solution provider's capabilities will provide significant value to clients of our MessageVision and Tailored Business Systems divisions. Acquiring their operations will allow VillageEDOCS to offer a complete service solution for content, printing, delivery, imaging, and archiving of our clients' business critical information, building upon and enhancing the solutions currently being offered through our newly-formed subsidiary, MessageVision," said Mr. Mason Conner, President and CEO of VillageEDOCS.
About VillageEDOCS
VillageEDOCS, through our MessageVision subsidiary, is a leading provider of comprehensive business-to-business business information delivery services and products for organizations with mission-critical needs, including major corporations, government agencies and non-profit organizations. Through our Tailored Business Systems subsidiary, we provide accounting and billing solutions for county and local governments. For further information, visit our website at www.villageedocs.com.
Contact Information: Phone: 714.734.1030, Fax: 714.734.1040, email: info@villageEDOCS.com, Corporate Website: www.villageedocs.com Service Website: www.villagefax.net
Cautionary Statement Regarding Forward-Looking Information
All statements in this press release that do not directly and exclusively relate to historical facts constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements represent the Company's plans, intentions, expectations and belief and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected or expressed herein. These include uncertainties in the market, competition, legal, regulatory initiatives, success of marketing efforts, availability, terms and deployment of capital, and other risks detailed in the Company's SEC reports, of which many are beyond the control of the Company. The Company assumes no obligation to update or alter the information in this news release. Investors are cautioned not to put undue reliance on any forward-looking statements. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in Section 21E of the Exchange Act.