Fortran Corporation Signs LOI
Fortran (OTC: FRTN) has signed a Letter of Intent to acquire Intech Systems of South Carolina, a Columbia-based telecommunications company specializing in hospitality industry services. The acquisition, expected to complete in Q1 2025, aims to expand Fortran's market presence in South Carolina and neighboring regions while potentially boosting revenue and profitability.
Fortran (OTC: FRTN) ha firmato una Lettera di Intenti per acquisire Intech Systems della Carolina del Sud, un'azienda di telecomunicazioni con sede a Columbia specializzata nei servizi per l'industria dell'ospitalità. L'acquisizione, prevista per il completamento nel primo trimestre del 2025, mira a espandere la presenza di Fortran nel mercato della Carolina del Sud e nelle regioni limitrofe, aumentando potenzialmente ricavi e profitti.
Fortran (OTC: FRTN) ha firmado una Carta de Intención para adquirir Intech Systems de Carolina del Sur, una empresa de telecomunicaciones con sede en Columbia que se especializa en servicios para la industria de la hospitality. Se espera que la adquisición se complete en el primer trimestre de 2025, con el objetivo de expandir la presencia de Fortran en el mercado de Carolina del Sur y regiones adyacentes, al mismo tiempo que potencialmente aumenta los ingresos y la rentabilidad.
포트란 (OTC: FRTN)은 사우스캐롤라이나의 인테크 시스템을 인수하기 위한 의향서를 체결했습니다. 콜럼비아에 본사를 둔 이 통신 회사는 접객업계 서비스에 전문화되어 있습니다. 이번 인수는 2025년 1분기 중 완료될 것으로 예상되며, 포트란이 사우스캐롤라이나 및 인근 지역에서의 시장 존재감을 확장하고, 수익성과 수익을 증가시킬 수 있는 가능성을 목표로 하고 있습니다.
Fortran (OTC: FRTN) a signé une Lettre d'Intention pour acquérir Intech Systems de Caroline du Sud, une entreprise de télécommunications basée à Columbia et spécialisée dans les services pour l'industrie hôtelière. L'acquisition, prévue pour être finalisée au premier trimestre 2025, vise à étendre la présence de Fortran sur le marché de la Caroline du Sud et dans les régions voisines tout en augmentant potentiellement les revenus et la rentabilité.
Fortran (OTC: FRTN) hat ein Absichtserklärung zur Übernahme von Intech Systems aus South Carolina unterzeichnet, einem Telekommunikationsunternehmen mit Sitz in Columbia, das auf Dienstleistungen für die Hospitality-Branche spezialisiert ist. Die Übernahme, die voraussichtlich im ersten Quartal 2025 abgeschlossen sein wird, zielt darauf ab, die Marktpräsenz von Fortran in South Carolina und den benachbarten Regionen zu erweitern und gleichzeitig potenziell Umsatz und Rentabilität zu steigern.
- Strategic expansion into South Carolina market through acquisition
- Potential revenue growth through new hospitality industry focus
- Expected market share increase in South Carolina and surrounding areas
- None.
CONOVER, N.C., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Fortran Corporation (OTC: FRTN) is pleased to announce that the company has signed a Letter of Intent (LOI) to acquire Intech Systems of South Carolina, Inc.
"We believe that the acquisition of Intech Systems of South Carolina will increase our market share in South Carolina and surrounding areas and add revenue that will enhance our bottom line numbers," stated President Kent Greer.
Intech Systems of South Carolina is headquartered in Columbia, South Carolina and provides telecommunication sales, installation, and services focused in the hospitality industry.
Fortran expects to complete the acquisition of Intech Systems of South Carolina in the first quarter of 2025.
About Fortran Corporation
Fortran Corporation is a telecommunication system integrator dedicated to designing, implementing and maintaining complex telecommunications solutions focused on cloud based and AI services. Fortran is comprised of engineering and design, network services, sales, remote monitoring, and on-site service. For more information, contact us at: info@fortrancorp.com.
Visit us at www.fortrancorp.com
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Statements and information contained in this communication that refer to or include Fortran's estimated or anticipated future results or other non-historical expressions of fact are forward-looking statements that reflect Fortran's current perspective of existing trends and information as of the date of the communication. Forward looking statements generally will be accompanied by words such as "anticipate," "believe," "plan," "could," "should," "estimate," "expect," "forecast," "outlook," "guidance," "intend," "may," "might," "will," "possible," "potential," "predict," "project," or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to, statements about the belief that the acquisition of Intech Systems of South Carolina will increase Fortran's market share in the Southeast and add revenue that will enhance its bottom line numbers. Fortran's expects that it will complete the acquisition of Intech Systems of South Carolina in the first quarter of 2025. It is important to note that Fortran's plans, objectives, expectations and intentions are not predictions of actual performance. Actual results may differ materially from Fortran's current expectation depending upon a number of factors affecting Fortran's business. Factors that could cause or contribute to such differences include, but are not limited to, fluctuation in operating results, the ability of Fortran to compete successfully and other events. These factors also include, among others, the risks associated with the ongoing COVID-19 pandemic and related public health measures on its business, customers, markets and the worldwide economy: the inherent uncertainty associated with financial and other projections: the anticipated size of the markets and continued demand for Fortran's products: the impact of competitive products and pricing: changes in generally accepted accounting principles: successful compliance with governmental regulations applicable to Fortran's facilities, products and/or businesses; changes in laws, regulations and governmental policies: the loss of key senior management or staff: and other events factor and risks previously and from time to time disclosed in Fortran Corporation's filings with the OTC Markets Group Inc. including, specifically, those factors set forth in any "Risk Factors" section contained in such filings.
Contact:
Kent Greer
828-324-4611
kgreer@fortrancorp.com
FAQ
When is Fortran (FRTN) expected to complete the Intech Systems acquisition?
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