PIHN news inside...
Polaris International Holdings, Inc. Signs Letter of Intent for U.S.-Based IT Communications Acquisition
LOS ANGELES, July 15, 2010 /PRNewswire via COMTEX/ -- Polaris International hereby announces that it has entered into a Letter of Intent to acquire a U.S. telecom business, subject to due diligence and funding. The closing date is expected to be late August, 2010. The targeted acquisition company, which must remain unnamed, is currently generating revenues in excess of $12,000,000 and operating with a profit margin in the 30 percent range.
Chairman Kuni Misawa commented, "We have been searching for a special acquisition that could add immediate shareholder value. The broadband communications continue to show massive growth, and this acquisition, once completed, will provide Polaris with a major presence in the United States to compliment our Japanese IT operations."
About Polaris International Holdings, Inc.:
Polaris International Holdings, Inc., a Delaware corporation with offices in Huntington Beach and Los Angeles, California and in Tokyo, Japan, is in the business of supplying services for Network Infrastructure, ASP and Cloud Computing Solutions. Its management team is composed of seasoned international business professionals with over 60 years of expertise in the technology, media, entertainment and investment industries. Polaris, with both a U.S. and Japan market base, is well positioned for the global evolution occurring in IT services and is meeting this evolution with its progressive collection of 'Cloud Solutions and Services' for its corporate Fortune 100 clients. Polaris' near term plan is to build out its 'Global IT Services' through acquisitions and/or strategic partnerships. The Company is currently engaged in due diligence with several international businesses which, if successfully completed, will significantly expand its territory from Japan to include other rapidly growing Asian and North American markets. www.polaris-int.com
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially form the expected results.
SOURCE Polaris International Holdings, Inc.
www.prnewswire.com
Copyright (C) 2010 PR Newswire. All rights reserved
News 
Market Data 
Discover 
