NETP News! SAN DIEGO, Dec 2, 2003 (BUSINESS WIRE) -- MicroSkills San Diego LP, a San Diego-based IT Technical Training and Certification school, announced today that it has delivered a letter of intent to the board of directors of Net Perceptions Inc. (Nasdaq: NETP) proposing a strategic transaction with Net Perceptions. A summary of the letter of intent is as follows:
Acquisition of MicroSkills San Diego LP
NETP would acquire 100% of the outstanding ownership of MicroSkills San Diego LP ("MicroSkills") whose business is briefly described below, with the existing owners of MicroSkills receiving 49.99% of the stock of NETP.
Summary of Investment Opportunity
We believe that this offer provides the ability for the NETP shareholder to be involved in a growing vocational school and participate in the substantial upside potential of that business. We think this opportunity represents a far superior value to NETP shareholders than liquidating NETP.
MicroSkills San Diego is a San Diego-based company certified as both a Microsoft Certified Technical Education Center and a Novell Authorized Education Center providing computer training and certification services to individuals in the San Diego County area. Corporate headquarters and the training center are located at 7340 Miramar Rd, San Diego, Calif. Technology related or IT jobs are among the fastest growing and healthiest areas of the economy and MicroSkills intends to capitalize on the opportunities in that area. In order to meet the market demands in other geographic regions, MicroSkills' plans call for the opening of nine additional MicroSkills Certification and Training Centers over the next four years.
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. MicroSkills cannot provide assurances that the tender offer described in this press release will be successfully completed or that we will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: economic and market conditions; successful integration of acquired or merged businesses; our ability to retain key management and employees; as well as other risks and uncertainties.
SOURCE: MicroSkills San Diego LP
MicroSkills, San Diego
Angelo Pera, 858-348-8000, x1252
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