NewMarket Technology, Inc. to Acquire Everex, a Respected Brand Name in Personal Computing Reporting Approximately $60 Million in Revenue in 2007
In Part of Comprehensive Plan to Launch a National Mobility Solution, NewMarket Signs Binding Agreement With FIC to Acquire 75% Interest in Everex
DALLAS, TX--(Marketwire - June 23, 2008) - NewMarket Technology, Inc. (OTCBB: NMKT) has
entered into a binding agreement with First International Computer, Inc.
(FIC) to acquire a 75% interest in Everex. The acquisition is part of a
comprehensive plan to build a national mobility technology solution.
Everex
Established in 1983, and headquartered in Fremont, California, Everex is
one of the most experienced and trusted brands in the personal computer
industry. As a market leader in producing innovative products, Everex has
sold millions of PCs and peripheral components worldwide. Everex annual
sales in 2007 were approximately $60 million.
Mobility Technology Solution
Everex will be the cornerstone of NewMarket's previously announced mobility
technology solution. Everex recently introduced the
CloudBook -- an ultra mobile, low cost and lightweight portable
computer. The CloudBook is WiMax enabled in preparation for the soon
coming next generation in ubiquitous network access.
September 2008 Closing and Purchase Agreement Details
The definitive and binding agreement between NewMarket and FIC is targeted
to be complete by September of this year. The terms of the agreement are
confidential. Because of the magnitude of the of the transaction, the
NewMarket Board of Directors has determined it is in the best interest of
the Company to retain outside investment banking advice to assess the
overall financial impact to NewMarket. The analysis report will be
completed well before the targeted September closing.
NewMarket Technology, Inc.
NewMarket is a technology innovation company. The Company has established
a core systems integration business (similar to IBM and EDS) selling and
servicing recognized technology solutions from brand name leaders such as
Microsoft and Oracle. The core systems integration service accounts for
approximately 70% of the Company's approximate $100 million in annual
revenue and creates a channel to market for introducing a portfolio of new
technologies that account for the balance of the Company's revenue. The
Company has further accelerated its sales growth by concentrating business
development efforts in the world's fast growing emerging regional
economies. Asia and South America account for the majority of NewMarket's
sales today. In addition to launching a mobility solution offering, the
acquisition of Everex will bring NewMarket's North American sales in
balance with its foreign region sales.
First International Computer, Inc. (FIC)
FIC is a dominant force in the technology market both in research and
development, and manufacturing. As Computer, Communication and Consumer
Electronics (3C) markets have converged, FIC has introduced many new and
innovative 3C products, becoming a respected leader in the 3C industry,
adding to the Company's long history of producing award winning
motherboards. FIC will be a strategic supplier to the NewMarket mobility
business.
Corporate Email Updates
To be added to NewMarket Technology's e-mail database to receive company
updates, please send an e-mail to ir@newmarkettechnology.com.
NewMarket Technology, Inc. (www.newmarkettechnology.com)
Everex (www.everex.com)
First International Computer, Inc. (FIC) (http://www.fic.com.tw/)
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause NewMarket's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.