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As a means of formalizing this relationship, NetGateway and Admor Memory will enter into a 3- year services contract whereby NetGateway will continue to provide Admor with ICC services.
The substantial synergies between our two companies which were the reason for the original purchase of Admor remain valid," said Keith Freadhoff, NetGateway's Chairman and Chief Executive Officer.
The acquisition of Admor Memory is being undertaken as part of the Company's previously announced acquisition strategy of seeking companies that it believes will benefit from an accelerated sales program initiated through NetGateway's Internet Commerce Center (ICC).
Admor Memory (OTC Bulletin Board: ADMR) is a rapidly growing add-on-memory manufacturer which markets and distributes a complete line of original equipment and aftermarket product for PCs, workstations, notebooks and printers to value added resellers, OEMs and systems integrators worldwide.
of Admor Memory stated, "Intel's 'Basic Test Level' procedure is based on current standards in the industry, yet it exceeds the maximum testing requirements set forth by other memory companies.
Michael Rapp, President and CEO of Admor Memory said, "We are fortunate to have John DiFrenna join us as a result of our recent acquisition of Allied Micro Corp.
DiFrenna, President and co-founder of Allied Micro Corporation, said, "We look forward to joining with Admor.
Chaffetz said, "Over the last six months, Admor has focused on putting together a strong team and infrastructure in order to expand sales and broaden it's manufacturing capabilities.
Commenting on the bank increase and new terms, Michael Rapp, President and CEO of Admor Memory, said, "We are quite pleased with our relationship with Comerica Bank and based on our expected rate of growth, we believe they will expand with us during the next two to three years.
May 5 /PRNewswire/ -- Admor Memory Corporation (0TC: ADMR) announced today its results from operations for the third fiscal quarter ended March 31, 1997.
March 13 /PRNewswire/ -- Admor Memory Corporation (OTC: ADMR) announced today that it posted record results from operations for the first six months of fiscal 1997.
After further due diligence, instead of acquiring Price Point, we believe that it is in the best interest of Admor Shareholders that Admor develop manufacturing capabilities internally.