MIAMI, March 3, 2005 (PRIMEZONE) -- Stock Market Alert's watch list includes: Vinoble Inc. (OTCBB:VNBL), Sun Microsystems Incorporated (Nasdaq:SUNW), Nortel Networks Corporation (NYSE:NT) and Applied Materials, Inc. (Nasdaq:AMAT).
Vinoble Inc. (OTCBB:VNBL) issued a press release that may get investors' attention. Late yesterday afternoon, the company announced that it has entered into a non-binding memorandum of understanding to acquire 100 percent of Welch and Welch Investigations, Inc. (Welch & Welch), a New Jersey-based security and investigative services firm. Before the news was released, the company's stock closed at forty-four cents a share.
The press release stated that upon completion of the acquisition, Vinoble intends to merge the business operations of Welch and Welch into one of its security subsidiaries, and will effectively enter the high-growth marketplace for investigative services.
Founded in 1988 and currently licensed in New York and New Jersey, Welch & Welch provides a range of security and investigative services. The company maintains a 24-hour Computer Incident Response Team with rapid response capabilities that include investigations, computer forensics and electronic data discovery. In addition, Welch & Welch's Florida division provides case analysis support to legal teams on a variety of criminal and civil matters.
The press release also states that Welch & Welch Founder Thomas Welch, who now serves as vice president and COO of Vinoble, is widely regarded as a leader in the high-tech crime investigation field. In 1998, he authored the chapter on High-Tech Crime Investigations and Computer Forensics in the Information Security Handbook, the industry guidebook on information security and incident response, published by CRC Press. Welch also has educated law enforcement officers and security practitioners on this complex topic for the past 15 years.
Vinoble, Inc. is a holding company seeking to identify and acquire operational business opportunities in the areas of homeland security, security information systems, and other security services to provide long term growth for its shareholders. Management has partnered with GarcyCo Capital Corp. ("GCCC") to assist in finding acquisition candidates for the company, structuring such acquisitions, and effecting a transition to corporate growth. At present, Vinoble and GCCC have targeted several companies as potential acquisition candidates.
Other stocks of interest yesterday were: Sun Microsystems, Inc. (Nasdaq:SUNW) up 0.7% on 41.5 million shares traded, Nortel Networks Corporation (NYSE:NT) up 1% on 33.5 million shares traded and Applied Materials, Inc. (Nasdaq:AMAT) down 2.5% on 33.5 million shares traded.
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