SOURCE: Vault Technology, Inc.

November 21, 2008 16:00 ET

Vault Technology, Inc. Announces Letter of Intent to Acquire Presentation Concepts Corp.

Acquisition Will Contribute Over $8 Million in Revenues for 2009

FORT LAUDERDALE, FL--(Marketwire - November 21, 2008) - Vault Technology, Inc. (OTCBB: VULT) today announced that it has executed a Non-Binding Letter of Intent to acquire 100% of the shares of Presentation Concepts Corporation (PCC). Founded in 1997, PCC is a multimedia services company specializing in audiovisual systems integration and IT services.

"PCC has demonstrated consistent growth and has developed an outstanding reputation in the audiovisual market. Their strong management team as well as their growth plans makes them an excellent foundation for our roll-up of A/V integrators," said Nick Arroyo, President and CEO of Vault.

"I'm excited to be a part of this visionary company and its growth plan," said Joseph Musumeci, President of PCC. "Having been in the audiovisual industry for over 15 years, I believe the time is right for structured consolidations like this one. With the resources of Vault behind us, I am confident that we can grow our market share and add tremendous value for our stakeholders," added Musumeci.

Based in Syracuse, New York, PCC has offices throughout New York State providing audiovisual systems design, integration, sales, rental and service. Their products include large format displays, projection equipment, interactive whiteboards, control systems, digital signage systems, and video conferencing systems. PCC also specializes in e-mail, networking and web services to small and medium size businesses providing enterprise level products and services, including Content Management Systems, MS Exchange, Mobile Messaging, and Web Portals.

About Vault Technology, Inc.

Vault Technology, Inc. is acquiring operating entities that deliver products and services related to audiovisual systems integration, home theater systems and digital media. Target entities are businesses that have achieved revenue growth and earnings over the years. Vault is also actively engaged in the development of breakthrough strategies for the next generation of enterprise system solutions. If you would like additional information about Vault Technology, please visit our website at www.vaulttechnology.com

About Presentation Concepts Corporation

Presentation Concepts Corp. is a multimedia services company specializing in audiovisual system design, integration, sales, rental and service, as well as web design and development, networking, security products and other IT services focusing on educational institutions, government, and corporate customers. PCC clients include Cornell University, Syracuse University, the State of New York, Blue Cross/Blue Shield and Lockheed Martin among others. Visit www.pccav.com for additional information.

Safe Harbor Statement

This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "will," "expects," and other terms with similar meaning. Forward-looking statements are based on current beliefs, assumptions and expectations and speak only as of the date of this release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.

Contact Information

  • CONTACT:
    Vault Technology, Inc.
    4901 NW 17th Way, Suite 405
    Fort Lauderdale, FL 33309
    Phone: 954-492-9200
    Fax: 954-492-9639
    Email contact: Email Contact