Ptek Holdings Inc. (Nasdaq: PTEK), has moved to acquire Resource Communications Inc. (RCI) for $19.7 million.
Ptek funded the purchase of RCI, a provider of conferencing and web collaboration solutions to small- and medium-sized businesses, with the company’s existing bank credit facility.
New Jersey-based RCI recorded revenue of approximately $10 million in 2003. Its operating results will be reflected in Ptek’s consolidated financial statements beginning in the second quarter of 2004.
Ptek says the purchase of RCI will be accretive to 2004 revenue and earnings and will revise its financial outlook when reporting first quarter results.
“The acquisition of RCI demonstrates our commitment to expanding our distribution channels,” said Boland Jones, founder, chairman and CEO of Ptek. “We look to build on the success RCI has had in marketing to small- and medium-sized businesses and professional organizations and for their customers to benefit from our broad global product suite and industry-leading client services.”
Ptek: www.ptek.com
