|
Computer Software Innovations to Request Additional Information on Acquisition Proposal From Constellation Software Inc.
EASLEY, SC, Apr 05, 2012 (MARKETWIRE via COMTEX) --
Computer Software Innovations, Inc. (OTCBB: CSWI), CSI Technology
Outfitters(TM) ("CSI" or the "Company") disclosed today that its
Board of Directors has reviewed the proposal received from
Constellation Software Inc. and has authorized the Company's
management to request additional information from Constellation about
its proposal. Once that information is received, the Board will
review Constellation's proposal in more detail. At this time, the
Board has not reached a conclusion as to whether it should pursue or
reject the proposal. No action by CSI shareholders is required at
this time. The CSI Board also authorized the Company's management and
its financial advisor, Hyde Park Capital, to continue with the
Company's previously disclosed review of strategic options. Finally,
the Company noted that it does not intend to make additional
disclosures about any developments relating to the proposal received
from Constellation, or any proposal that may be received from any
other party, unless such disclosure is required by law.
About Computer Software Innovations, Inc.
CSI provides software and technology solutions to public sector
markets. CSI software solutions have established the Company as a
major software provider in the southeast education market including
through its award winning financial management solutions for the
education and local government market sectors. CSI's Version3
products, which include identity and access management and
cloud-based communication and collaboration solutions, expand CSI's
presence throughout the US. The CSI Cloud Services provides the
education community with enterprise class, hosted voice, hosted email
and hosted web solutions.
The CSI 21st Century Connected School solution has established the
Company as a major technology provider to the southeast education
market. CSI 21st Century Connected School is a seamless integration
of instruction, collaboration, and network solutions. CSI financial
management applications and the 21st Century Connected School
solutions have been a significant factor in nearly doubling Company
revenue in the past six years to over $50 million and increasing
education revenue contribution to approximately 90% of total revenue.
The CSI solution portfolio encompasses proprietary financial
management software specialized for the public sector, lesson
planning and identity and access management software, cloud-based
communication and collaboration solutions, SharePoint development,
network infrastructure and end device solutions, IP telephony and IP
convergence applications, network management solutions and managed
services, and interactive classroom technologies.
Forward-Looking and Cautionary Statements
This release contains "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Among other things, these statements
relate to our financial condition, results of operations and future
business plans, operations, opportunities and prospects. In addition,
we and our representatives may from time to time make written or oral
forward-looking statements, including statements contained in filings
with the Securities and Exchange Commission and in our reports to
stockholders. These forward-looking statements are generally
identified by the words or phrases "may," "could," "should,"
"expect," "anticipate," "plan," "believe," "seek," "estimate,"
"predict," "project" or words of similar import. These
forward-looking statements are based upon our current knowledge and
assumptions about future events and involve risks and uncertainties
that could cause our actual results, performance or achievements to
be materially different from any anticipated results, prospects,
performance or achievements expressed or implied by such
forward-looking statements. These forward-looking statements are not
guarantees of future performance. Many factors are beyond our ability
to control or predict. You are accordingly cautioned not to place
undue reliance on such forward-looking statements, which speak only
as of the date that we make them. We do not undertake to update any
forward-looking statement that may be made from time to time by or on
our behalf.
In our most recent Form 10-K, we have included risk factors and
uncertainties that might cause differences between anticipated and
actual future results. We have attempted to identify, in context,
some of the factors that we currently believe may cause actual future
experience and results to differ from our current expectations
regarding the relevant matter or subject area. The operations and
results of our software and systems integration businesses also may
be subject to the effects of other risks and uncertainties,
including, but not limited to:
-- a reduction in anticipated sales;
-- an inability to perform customer contracts at anticipated cost
levels;
-- our ability to otherwise meet the operating goals established by our
business plan;
-- market acceptance of our new software, technology and services
offerings;
-- an economic downturn; and
-- changes in the competitive marketplace and/or customer requirements.
ADDITIONAL INFORMATION
This communication does not constitute an offer to buy or
solicitation of an offer to sell any securities. No tender offer for
the shares of CSI has commenced at this time. If a tender offer is
commenced, CSI may file a solicitation/recommendation statement on
Schedule 14D-9 with the U.S. Securities and Exchange Commission
("SEC"). Any solicitation/recommendation statement filed by CSI that
is required to be mailed to stockholders will be mailed to
stockholders of CSI. INVESTORS AND STOCKHOLDERS OF CSI ARE URGED TO
READ THESE AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR
ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION. Investors and stockholders will be able to
obtain free copies of these documents (if and when available) and
other documents filed with the SEC by CSI through the web site
maintained by the SEC at http://www.sec.gov.
In addition, this document and other materials related to
Constellation's proposal may be obtained from CSI free of charge by
directing a request to CSI, Attn: Chief Financial Officer, David
Dechant, ddechant@csioutfitters.com.
Contact:
CSI
ddechant@csioutfitters.com
SOURCE: Computer Software Innovations, Inc.
mailto:ddechant@csioutfitters.com
[ Back To SIP Trunking Home's Homepage ]
|
NEW Bring Your Own Device
(BYOD): HTML5 and Google's WebRTC are
transforming our industry: The disaggregation of the telecom industry has long
been talked about, while available solutions remain
vertically integrated in spite of a growing industry of
standards-based individual components...
NEW SSOA - SIP Service Oriented Architecture™:
Cloud and large enterprise communications
and collaboration infrastructure: This eBook introduces eZuce's SIP Service Oriented
Architecture (SSOA). SSOA is a 'carrier-class'
system that offers the demanding global enterprise
a modern built-for-the-cloud and highly
scalable...
NEW Benefits of Broadvox VAR Partner Program: We built our Partner Program to work for you. We understand that different
types of partners have different needs, and we don't play favorites. When
you partner with Broadvox, every member of our team stands behind you
and your customers 100%... 
What's New?
