ACI Attracts Buyer
Management team supportive of acquisition
Palm Coast, Florida, March 3, 2003—Appareo Software Inc. (the
"Company") announced that it has accepted an offer to purchase
100% of the tangible and intangible assets of Palm Coast Solutions, Inc.
(ACI), the Company's wholly owned subsidiary for an undisclosed cash amount.
The Offer has received approval in principle from the Company's Investors
who financed the acquisition of the assets of Polaroid Digital Solutions,
Inc. The acquirer is neither a competitor nor a client of ACI. The Transaction
is scheduled to close on March 31, 2003.
"These are very exciting times for ACI. In the last year we have
relocated the company, revitalized the ACI name, and now we have attracted
a formidable strategic buyer," says Dave Roberts, President of ACI.
"And while we are encouraged by the recent events surrounding the
acquisition, in the best interest of all parties, it is important that
we limit the flow of information until a definitive agreement is signed."
About ACI
ACI is a leading provider of digital solutions under the ACI, MCS, FormFill,
CRAL, Lighthouse, and ZOOware brands, encompassing electronic forms, digital
photo imaging, and automation tools for the mortgage services, real estate,
insurance, and hospitality vertical markets. The ACI client base features
many of North America's premier lenders, national appraisal companies,
and real estate brokerage firms. Additional information is available on
the Internet at www.aciweb.com. ACI solves mobile workflow management
challenges with well-crafted, sustainable enterprise solutions built on
digital, Internet, and wireless technologies, targeted to the mortgage,
insurance, and hospitality industries. These solutions are custom-configured,
highly scalable, and flexible, to fit the unique characteristics of each
corporation, while offering reliability and interoperability.
Trademark Information
Copyright © 2002 by ACI. Any product names listed are registered
trademarks of ACI. Other product and company names herein may be trademarks
of their respective owners.