Under the deal, ILTS Delaware is the surviving corporation and changed its name to "International Lottery and Totalizator Systems, Inc.
On the effective date of the merger, the issued and outstanding shares of common stock, without par value, of ILTS California automatically converted into shares of the common stock of ILTS Delaware on a one-for-one basis, and ILTS Delaware succeeded to all the assets, rights, powers, property, debts, liabilities and obligations of ILTS California.
The shareholders of ILTS California were not required to surrender their certificates for the common stock of ILTS California, but may, at their option, surrender such certificates and receive certificates of ILTS Delaware common stock.
The Lectureship Program in Emerging Countries was established to help fund ILTS lectureships to official transplant meetings in countries where liver transplant programs are being developed.
The ILTS will fund Michael Ramsay, MD, of Baylor University Medical Center, in Dallas, TX who will speak on Hepatopulmonary Syndrome and Portopulmonary Hypertension and Critical Aspects of Anesthesia for Liver Transplantation.
To qualify for the lectureship, the organizer must submit a proposal to ILTS outlining the meeting topics and a specific request for a speaker.
Under the terms of a Purchase Agreement, ILTS will provide a complete DataTrak(R) on-line lottery system, including central system hardware and software, as well as a minimum of 3,500 DATAMARK XClaim(R) remote terminals
In addition, under a separate Facilities Management Agreement, ILTS (through a UK subsidiary) will provide a full range of services in connection with the lottery system, including installation, training, computer operations, network management and field maintenance.
ILTS plans to begin the manufacture of the lottery terminals in the fourth quarter of 1999.
At ILTS our goal is to provide our customers with not only state-of-the-art software and hardware, but the best service, financing and marketing support as a complete solution customized for their unique business requirements," said Lou Burns, vice president, sales & marketing, ILTS.
Through the EPSON Acclaim program, ILTS can take advantage of targeted marketing promotions for Epson-based solutions as well as access a full range of high-quality sales tools.
Resellers like ILTS can now offer flexible leasing and financing programs to their customers through Acclaim's customizable program that includes software, hardware and capital improvements including refinancing and midterm upgrades.