IRVINE, Calif., Dec. 17, 2003 (PRIMEZONE) -- eSynch Corporation (OTCBB:ESYN) announced today its wholly owned subsidiary, Oxford Media Corporation has made an offer to acquire eMOD Systems, Inc. and its wholly owned subsidiaries, including SkyPath Satellite Systems, Inc. eMOD Systems is a digital solutions company concentrating on the secure high quality distribution of digital video content to the hotel industry. SkyPath is a leading designer and manufacturer of in room satellite programming for commercial lodging, condominiums and apartments, convention centers and sports arenas.
For the past several years, the large hospitality entertainment systems have been limited to larger properties of 300 rooms or more because of the prohibitive cost and maintenance of the system. eMOD Systems has changed that with a new low cost system targeted towards thousands of hotel properties representing close to 1,000,000 hotel rooms having no pay per view service.
"As we proposed last month, eSynch and Oxford Media are looking for companies that fit our business plan," said Tom Hemingway, Chairman and CEO.
Hemingway continued: "After careful consideration, eMOD has met the stringent requirements we are looking for in an acquisition, adding value to the companies in a synergistic merger, both in revenues and profitability."
About eSynch:
eSynch Corporation (http://www.esynch.com), founded in 1994, is a holding company for software development companies who design solutions for a myriad of business applications. An earlier announced opportunity with River Capital, LLC failed to meet expectations and no further discussions are planned.
eMOD Systems, Inc.:
eMOD Systems, Inc., a Delaware Corporation, is a digital solutions company concentrating on the secure high quality distribution of digital video content through distributors and content owners. Starting with the eMovies On Demand Hotel Video System that benefits the guest, the hotel and the content owners. In addition, eMOD Systems, Inc has acquired SkyPath Satellite Systems, Inc., a California Corporation based in Dallas, Texas which provides the free-to-guest (FTG) programming from DirecTV or Dish Network to the hospitality industry. SkyPath is ranked in the top 20 FTG providers in the country with over $1M in annual revenues, is profitable and experiencing continued upward growth. Skypath will market the VOD system along with the FTG and projects an additional 15,000 rooms in the next 12 months.
Safe Harbor
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, the ability to negotiate outstanding prior debts of acquired companies; properly identify acquisition partners; adequately perform due diligence; manage and integrate acquired businesses; react to quarterly fluctuations in results; raise working capital and secure other financing; respond to competition and rapidly changing technology; deal with market and stock price fluctuations; and other risks. These are and will be detailed, from time to time, in eSynch's Securities and Exchange Commission filings, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from management's expectations.
HTML: http://newsroom.eworldwire.com/wr/121603/1986.htm PDF: http://newsroom.eworldwire.com/pdf/121603/1986.pdf ONLINE NEWSROOM: http://newsroom.eworldwire.com/1673.htm LOGO: http://newsroom.eworldwire.com/1673.htm