Xedar Corporation Acquires Atlantic Systems Corporation
DENVER -- Xedar Corporation (OTCBB: XDRC) ("Xedar"), a provider of complex data management solutions, today announced that it has acquired Atlantic Systems Corporation in a stock for stock transaction.
Virginia-based Atlantic Systems is one of the top technology marketing, strategic planning and government services firms in the Washington, D.C. area. Atlantic Systems generated over $5,000,000 in revenues in 2006. It works extensively with the Departments of Defense, Homeland Security, and the U.S. Congress, as well as the Intelligence Agencies and NASA.
According to Xedar's CEO, Hugh Williamson III, "The Atlantic Systems acquisition is an excellent opportunity for both companies, because Xedar can now take advantage of Atlantic Systems' substantial sales capabilities within the federal government, while Atlantic Systems can sell the services of Xedar's in-depth technical expertise. By adding Atlantic Systems to our growing portfolio of companies, we are executing our plan of building XeDAR into a premier information and data services company."
According to Atlantic Systems' CEO, Don Rakestraw, "This acquisition is the perfect fit to allow us to use our extensive knowledge and networks in the Government along with our current contracts to significantly expand and grow Xedar's business."
About Xedar Corporation
Xedar Corporation provides systems analysis services to the federal government, as well as land information databases to many of the world's largest oil companies and the federal government.
Forward-Looking Statements
The statements included in this news release, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "seek," or "believe." These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future events. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activity, performance, or achievements expressed or implied by the forward looking statements, including, but not limited to: (1) our ability to manage the Atlantic Systems acquisition and integration of operations and (2) our ability to win additional government business based on the expertise of the combined companies. In particular, you should consider the risks outlined under the heading "Risk Factors" in our most recent Annual Report on From 10-KSB. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements apply only as of the date of this news release; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this report or those that might reflect the occurrence of unanticipated events.
Contacts
Capital Group Communications, Inc. ("CGC")
Mark Bernhard or Abigail Bruce, 415-332-7200
xedar@capitalgc.com
www.capitalgc.com
Virginia-based Atlantic Systems is one of the top technology marketing, strategic planning and government services firms in the Washington, D.C. area. Atlantic Systems generated over $5,000,000 in revenues in 2006. It works extensively with the Departments of Defense, Homeland Security, and the U.S. Congress, as well as the Intelligence Agencies and NASA.
According to Xedar's CEO, Hugh Williamson III, "The Atlantic Systems acquisition is an excellent opportunity for both companies, because Xedar can now take advantage of Atlantic Systems' substantial sales capabilities within the federal government, while Atlantic Systems can sell the services of Xedar's in-depth technical expertise. By adding Atlantic Systems to our growing portfolio of companies, we are executing our plan of building XeDAR into a premier information and data services company."
According to Atlantic Systems' CEO, Don Rakestraw, "This acquisition is the perfect fit to allow us to use our extensive knowledge and networks in the Government along with our current contracts to significantly expand and grow Xedar's business."
About Xedar Corporation
Xedar Corporation provides systems analysis services to the federal government, as well as land information databases to many of the world's largest oil companies and the federal government.
Forward-Looking Statements
The statements included in this news release, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "seek," or "believe." These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future events. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activity, performance, or achievements expressed or implied by the forward looking statements, including, but not limited to: (1) our ability to manage the Atlantic Systems acquisition and integration of operations and (2) our ability to win additional government business based on the expertise of the combined companies. In particular, you should consider the risks outlined under the heading "Risk Factors" in our most recent Annual Report on From 10-KSB. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements apply only as of the date of this news release; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this report or those that might reflect the occurrence of unanticipated events.
Contacts
Capital Group Communications, Inc. ("CGC")
Mark Bernhard or Abigail Bruce, 415-332-7200
xedar@capitalgc.com
www.capitalgc.com
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