This latest PR is what got the jump start going IMO. Just a refresher for the newbies.
Anacomp(R) to Sell docHarbor(SM) Business; Enters Into Non-Binding Letter of Intent
SAN DIEGO, Jan. 17 /PRNewswire/ -- Anacomp, Inc. (OTC Bulletin Board: ANCO - news) today announced that it has entered into a non-binding Letter of Intent to sell 100% of its docHarbor business unit to a major corporate Buyer. While terms were not disclosed, the Company said it expects the sale to be completed by March 15, 2001. The transaction is subject to regulatory approvals, due diligence and negotiation of acceptable terms and conditions.
Anacomp, a leading provider of document management services, further stated that the Letter of Intent calls for a business arrangement -- after the transaction is completed -- under which Anacomp's Document Solutions business will continue to use docHarbor for its Internet-based document services, without interruption of service to its current and future customers. This arrangement will enable Anacomp Document Solutions to utilize docHarbor's technology and hosting capacity to provide customers with industry leading Internet document services under the Web Presentment Services brand name, including the same sales, implementation and support channels that were previously developed.
Phil Smoot, Anacomp's President and CEO, stated, ``We are very pleased to announce this Letter of Intent to sell docHarbor. The Buyer is positioned to continue making the investment in docHarbor that we began and that is still required to become the market leader in this emerging field. This sale will provide docHarbor's customers, employees, and partners with the continued support and backing they need and deserve.''
About Anacomp
Anacomp, Inc. is a leading provider of document-management services. With global operations backed by more than 30 years of outsourcing experience, Anacomp offers premium services for virtually any business application. Anacomp comprises three business units: docHarbor(SM) (web-based storage and delivery services), Document Solutions (document-management outsource services and software), and Technical Services (third-party and Anacomp equipment maintenance and supplies). For more information, visit Anacomp's web site at www.anacomp.com.
Media and analysts contact Kevin O'Neill, Anacomp Corporate Relations, (858) 848-5783 or by email at koneill@anacomp.com.
The information in this news release may contain forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. Such risks, uncertainties and other important factors include: general economic and business conditions; industry trends; industry capacity; competition; raw material costs and availability; currency fluctuations; the loss of any significant customers; changes in business strategy or development plans; availability, terms, and deployment of capital; availability of qualified personnel; and changes in, or failure or inability to comply with, government regulation.
Anacomp's news releases are distributed through PR Newswire and can be accessed via the Internet (www.anacomp.com or www.prnewswire.com) or by fax-on-demand (800-758-5804, ext. 054532).
Anacomp is a registered trademark and docHarbor is a service mark of Anacomp, Inc.
