$treet Trader Lion's Den

[here2help]

FLIP($25ML)Aquisition PR due THIS WEEK!!! Last PR:

March 6, 2008 - 9:41 AM EST
FTS Group Signs Letter of Intent to Acquire $25 Million IT Solutions Provider

FTS Chairman and CEO Scott Gallagher commented, "We've been working on this deal for over two months and now expect it to close in the next week or so. The deal turns FTS into a Company with over $30 Million in annual sales overnight. Shortly after closing the acquisition we'll be providing our stockholders with financial guidance for 2008 in both top line sales and cash flow for the consolidated Company. The deal will be immediately accretive to earnings and the most exciting piece to me, is that the deal is virtually non-dilutive to the current stockholders. We'll be assuming non convertible debt and are finalizing a $3.5 to $5 Million revolving note with our lead fund required to close the transaction."