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Court
Approves Asset Sale of DCi to ViewCast Corporation
DALLAS
(August 13, 2002) � ViewCast Corporation today announced
that the United States Bankruptcy Court in the bankruptcy
case of NQL Inc. has approved the intended purchase by ViewCast
Corporation of virtually all of the assets of NQL's wholly-owned
subsidiary, Delta Computec Inc. ("DCi"). ViewCast,
NQL and DCi entered into an asset purchase agreement on
May 31, 2002, pending approval from the Bankruptcy Court.
DCi is a provider of professional information technology
and customized network support services to Fortune 500 and
Fortune 1000 corporations, mid-sized companies, hospitals,
health care facilities and financial institutions primarily
in the Northeast.
"We
are pleased to receive the positive ruling from the bankruptcy
court and look forward to expediting the process of acquiring
the assets of DCi," stated George Platt, President
and CEO. "We believe that DCi is a great investment
for ViewCast due to their impressive customer satisfaction
track-record and complementary capabilities, which address
a variety of target markets, plus the expectation of a positive
financial impact from their operations. This acquisition
adds depth and breadth to our current product offerings,
as well as expands our existing customer base."
ViewCast's
purchase of the DCi's assets remains subject to various
terms and closing conditions of the asset purchase agreement.
Further details regarding DCi and the acquisition will be
released following the close of the transaction, which is
expected to occur in September 2002.
Other
related ViewCast news!
About
ViewCast Corporation
ViewCast develops products and services that provide video
networked solutions. ViewCast maximizes the value of video
through its core businesses: Osprey® Video provides
the streaming media industry's de facto standard capture
cards and ViewCast Systems integrates turnkey streaming
and video distribution systems and software. From streaming
digital video on the Internet to distribution of broadcast-quality
video throughout the corporate enterprise, plus comprehensive
video software applications, ViewCast provides the complete
range of video solutions.
Visit
the company's Web site (http://www.viewcast.com)
for more information.
Safe
Harbor Statement
Certain statements, including those made by George Platt
and those regarding business outlook, contain "forward-looking"
information within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, which reflect the company's
current judgment on certain issues. Because such statements
apply to future events, they are subject to risks and uncertainties
that could cause the actual results to differ materially.
Important factors which could cause the actual results to
differ materially include, without limitation, the following:
the ability of the company to service its debt; continued
significant losses by the company; the ability of the company
to develop and market new products as technology evolves;
the ability of the company to meet its capital requirements;
increased competition in the video communications market;
the ability of the company to maintain current and develop
future relationships with third party resellers, manufacturers
and suppliers; the ability of the company to meet governmental
regulations; the ability of the company to obtain and enforce
its patents and avoid infringing upon third parties' patents;
and the satisfaction of the closing conditions and completion
of the Dci asset acquisition. The company will not update
these forward-looking statements, which speak only as of
the date hereof. For a detailed discussion of these and
other cautionary statements and factors that could cause
actual results to differ from the company's forward-looking
statements, please refer to the company's reports on Form
10-K and 10-Q on file with the Securities and Exchange Commission.
All
trademarks are property of their respective holders.
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