SOURCE: Premier Alliance Group, Inc.

Premier Alliance Group, Inc.

May 03, 2010 08:20 ET

Premier Alliance Group, Inc. Purchases the Assets of Intronic Solutions Group, LLC

CHARLOTTE, NC--(Marketwire - May 3, 2010) -  Premier Alliance Group, Inc. (OTCBB: PIMO), a business and technology consulting firm, today announced it has executed an asset purchase agreement with Intronic Solutions Group, LLC (ISG), a privately held, Kansas-based technology consulting and staffing company. Through this acquisition, Premier Alliance Group will significantly expand its professional services portfolio to meet growing demand for consulting and strategic services.

"We expect to realize great synergies from this transaction and to benefit immediately from the accretive effects of the consolidation which closed on April 30, 2010," said Mark Elliott, Premier Alliance Group's President. This transaction will increase Premier Alliance Group's billable resources by 40%, and double the reach of the company's national presence. ISG shall provide value added solutions to Premier Alliance existing customers that complement and extend the services currently provided.

"We have worked closely with ISG and are confident about a smooth integration process and the potential we see for our associates, customers and shareholders. ISG matches perfectly with our culture and business philosophy and as our second acquisition in the past 7 months, fits very well into our plan for both strategic and organic growth. This transaction continues to expand our geographic footprint, our customer base, our knowledge based expertise, and our areas of practice, all key growth components as we go forward."

Premier Alliance Group, Inc. provides business consulting services to customers with a focus on core areas of business processes used throughout the corporate world, including project management, business analysis, and strategic consulting. Typical initiatives in which the Company provides its services include compliance and regulatory, merger and acquisition, and business process reengineering efforts.

Intronic Solutions Group is a full-service professional services firm with a focus on information technology and engineering. It has partnered with Fortune 100 companies as well as small and medium sized businesses to implement innovative solutions.

Certain information contained in this press release may be forward-looking. Actual results might differ materially from any forward-looking statements contained in this press release. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of Premier Alliance Group to be materially different from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates" or "plans" to be uncertain and forward-looking.

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