Consumer Financial Corporation, Inc. Signs Letter of Intent to Acquire Universal Tracking Technologies, Inc.
Posted on: Tuesday, 8 September 2009, 07:30 CDT
FORT WAYNE, Ind., Sept. 8 /PRNewswire-FirstCall/ -- Consumers Financial Corporation, Inc. (OTC: CNSF) is pleased to announce that the Company has signed a Letter of Intent to acquire Universal Tracking Technologies, Inc. Universal Tracking Technologies, Inc. is a corporation that provides GPS products and services to businesses across the US. The terms of the purchase have not been disclosed. The parties are close to signing a definitive acquisition agreement, which they expect to announce within days.
This acquisition candidate fits the Company's business model, which has the objective of rolling up a number of smaller private companies who have established themselves in the asset and vehicle tracking industry.
"Over the next several weeks, Consumer Financial Corporation will be evaluating acquisition candidates that are producing tracking related products. I look forward to helping bring Consumer Financial Corporation to the next level and acquisitions will play an important part in creating revenue growth," stated David Dalton, Chairman and CEO of Consumers Financial Corporation, Inc.
About Consumers Financial Corporation, Inc.:
Consumers Financial Corporation is a document and identity management services company. The Company entered into the Electronic Personal Vault (EPV) market in 2007. The EPV is an online service to address the need for a convenient, yet secure and safe method, to manage and store identification and personal documents electronically. The EPV is an intuitive, powerful system where customers can transfer and store original formatted documents and digital images.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE Consumers Financial Corporation
Source: PR Newswire
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